JetBlue Airways Corporation (NASDAQ:JBLU) Given Average Rating of “Reduce” by Analysts

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) have been assigned a consensus recommendation of “Reduce” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $5.0389.

A number of equities analysts have weighed in on JBLU shares. Susquehanna upped their target price on JetBlue Airways from $4.00 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. UBS Group increased their price target on shares of JetBlue Airways from $3.00 to $4.00 and gave the stock a “sell” rating in a report on Friday, September 5th. Citigroup initiated coverage on JetBlue Airways in a research note on Thursday, December 4th. They issued a “sell” rating and a $4.10 target price on the stock. TD Cowen upped their price objective on JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, September 8th. Finally, Morgan Stanley reduced their price objective on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, December 8th.

JetBlue Airways Trading Up 1.0%

Shares of JetBlue Airways stock opened at $4.94 on Wednesday. The company’s 50-day moving average price is $4.51 and its 200-day moving average price is $4.66. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -3.74 and a beta of 1.76. JetBlue Airways has a 12-month low of $3.34 and a 12-month high of $8.31. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 3.42.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, October 28th. The transportation company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. JetBlue Airways had a negative net margin of 5.16% and a negative return on equity of 19.87%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) EPS. On average, equities analysts expect that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in JBLU. Mirabella Financial Services LLP bought a new stake in JetBlue Airways in the 3rd quarter worth $437,000. Caitong International Asset Management Co. Ltd raised its position in JetBlue Airways by 639.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 5,049 shares during the last quarter. Caxton Associates LLP purchased a new stake in JetBlue Airways in the 3rd quarter worth approximately $780,000. XTX Topco Ltd bought a new stake in shares of JetBlue Airways in the 3rd quarter worth approximately $982,000. Finally, Voleon Capital Management LP bought a new stake in JetBlue Airways in the third quarter valued at $2,763,000. 83.71% of the stock is 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.