Citigroup Cuts JetBlue Airways (NASDAQ:JBLU) Price Target to $4.25

JetBlue Airways (NASDAQ:JBLU) had its price target trimmed by Citigroup from $7.15 to $4.25 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

A number of other equities analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded JetBlue Airways from a “buy” rating to a “hold” rating and cut their target price for the stock from $9.00 to $7.00 in a research note on Tuesday, March 4th. Barclays cut their price objective on JetBlue Airways from $7.00 to $4.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. Susquehanna decreased their target price on JetBlue Airways from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. UBS Group cut their price target on shares of JetBlue Airways from $5.00 to $3.00 and set a “sell” rating on the stock in a report on Monday, April 7th. Finally, Bank of America decreased their price objective on shares of JetBlue Airways from $5.25 to $4.25 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, JetBlue Airways presently has a consensus rating of “Hold” and a consensus price target of $5.17.

JetBlue Airways Stock Performance

Shares of JetBlue Airways stock opened at $3.71 on Friday. JetBlue Airways has a 52 week low of $3.47 and a 52 week high of $8.31. The company has a quick ratio of 1.18, a current ratio of 1.10 and a debt-to-equity ratio of 3.08. The business has a 50 day moving average price of $5.71 and a 200-day moving average price of $6.50. The company has a market cap of $1.31 billion, a PE ratio of -1.59 and a beta of 1.69.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same period last year, the company posted ($0.19) earnings per share. Equities analysts anticipate that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Nik Mittal acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average price of $6.14 per share, with a total value of $614,000.00. Following the acquisition, the director now owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. This trade represents a 608.16 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ursula L. Hurley sold 15,000 shares of JetBlue Airways stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total value of $112,500.00. Following the transaction, the chief financial officer now directly owns 41,833 shares of the company’s stock, valued at $313,747.50. The trade was a 26.39 % decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

Institutional Trading of JetBlue Airways

Several institutional investors and hedge funds have recently bought and sold shares of JBLU. FMR LLC increased its holdings in shares of JetBlue Airways by 14,595.7% in the fourth quarter. FMR LLC now owns 16,599,279 shares of the transportation company’s stock worth $130,470,000 after purchasing an additional 16,486,326 shares during the period. Renaissance Technologies LLC grew its position in JetBlue Airways by 491.7% during the fourth quarter. Renaissance Technologies LLC now owns 4,274,457 shares of the transportation company’s stock worth $33,597,000 after buying an additional 3,552,057 shares in the last quarter. Nomura Holdings Inc. increased its stake in JetBlue Airways by 3,729.9% in the 4th quarter. Nomura Holdings Inc. now owns 3,436,202 shares of the transportation company’s stock worth $27,009,000 after acquiring an additional 3,346,482 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of JetBlue Airways by 88.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company’s stock valued at $36,170,000 after acquiring an additional 2,584,350 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its position in shares of JetBlue Airways by 60.8% during the 4th quarter. Voloridge Investment Management LLC now owns 5,203,155 shares of the transportation company’s stock valued at $40,897,000 after acquiring an additional 1,968,343 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.