JetBlue Airways (NASDAQ:JBLU) Price Target Lowered to $3.50 at UBS Group

JetBlue Airways (NASDAQ:JBLU) had its target price lowered by UBS Group from $4.00 to $3.50 in a report published on Monday morning,Benzinga reports. The brokerage currently has a sell rating on the transportation company’s stock.

Several other analysts have also issued reports on the stock. Evercore boosted their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the company an “in-line” rating in a research report on Thursday, January 29th. Citigroup upgraded shares of JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 price target on the stock in a research report on Tuesday, February 3rd. TD Cowen upgraded shares of JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Susquehanna boosted their price objective on shares of JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a research report on Friday, January 9th. Finally, JPMorgan Chase & Co. upped their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $4.98.

JetBlue Airways Stock Performance

Shares of JBLU opened at $4.26 on Monday. The company has a debt-to-equity ratio of 3.65, a current ratio of 0.74 and a quick ratio of 0.69. JetBlue Airways has a one year low of $3.34 and a one year high of $6.50. The firm has a market capitalization of $1.58 billion, a P/E ratio of -2.55 and a beta of 1.72. The business has a fifty day moving average of $5.29 and a 200 day moving average of $4.91.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company posted ($0.21) EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that JetBlue Airways will post -0.69 EPS for the current year.

Institutional Investors Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in JetBlue Airways by 639.1% during the third 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 in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of JetBlue Airways in the fourth quarter worth $30,000. Leonteq Securities AG purchased a new stake in shares of JetBlue Airways in the fourth quarter worth $32,000. Bogart Wealth LLC raised its position in shares of JetBlue Airways by 12,727.3% during the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 7,000 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of JetBlue Airways during the 4th quarter valued at $41,000. Institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.