JetBlue Airways (NASDAQ:JBLU) Price Target Cut to $4.00 by Analysts at TD Cowen

JetBlue Airways (NASDAQ:JBLU) had its target price decreased by TD Cowen from $5.00 to $4.00 in a report released on Monday morning,Benzinga reports. TD Cowen currently has a hold rating on the transportation company’s stock.

Several other equities research analysts also recently issued reports on the company. Susquehanna increased their price objective on JetBlue Airways from $4.55 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a research note on Thursday, January 22nd. The Goldman Sachs Group increased their price target on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock a “sell” rating in a research report on Tuesday, January 13th. Citigroup upgraded shares of JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 price target for the company in a report on Tuesday, February 3rd. Finally, Evercore boosted their price objective 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. Seven investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $5.02.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $4.52 on Monday. The company’s fifty day moving average is $5.33 and its two-hundred day moving average is $4.95. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 3.65. JetBlue Airways has a 12-month low of $3.34 and a 12-month high of $6.50. The company has a market cap of $1.67 billion, a P/E ratio of -2.71 and a beta of 1.71.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share (EPS) 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 business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the previous year, the company earned ($0.21) EPS. JetBlue Airways’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts expect that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its stake in shares of 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 worth $29,000 after purchasing an additional 5,049 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of JetBlue Airways during the 4th quarter valued at about $30,000. Leonteq Securities AG bought a new stake in shares of JetBlue Airways in the 4th quarter valued at approximately $32,000. Bogart Wealth LLC grew its stake in shares of JetBlue Airways by 12,727.3% in the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $35,000 after buying an additional 7,000 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in JetBlue Airways in the fourth quarter worth approximately $41,000. Hedge funds and other 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.