JetBlue Airways (NASDAQ:JBLU) Price Target Cut to $6.00

JetBlue Airways (NASDAQ:JBLU) had its target price reduced by TD Cowen from $7.00 to $6.00 in a research report issued on Tuesday, Briefing.com reports. The brokerage presently has a “hold” rating on the transportation company’s stock. TD Cowen’s price objective would suggest a potential downside of 1.15% from the company’s previous close.

A number of other research analysts have also recently weighed in on JBLU. Bank of America cut shares of JetBlue Airways from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $6.00 to $3.00 in a research report on Tuesday, January 9th. Susquehanna increased their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, April 9th. Evercore ISI increased their target price on shares of JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. UBS Group began coverage on shares of JetBlue Airways in a report on Wednesday, March 20th. They issued a “sell” rating and a $5.00 target price for the company. Finally, Barclays started coverage on shares of JetBlue Airways in a research report on Wednesday, March 27th. They set an “underweight” rating and a $6.00 price objective on the stock. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.88.

JetBlue Airways Trading Down 19.2 %

NASDAQ:JBLU traded down $1.44 on Tuesday, hitting $6.07. The stock had a trading volume of 31,418,347 shares, compared to its average volume of 16,740,127. The company has a fifty day moving average price of $6.97 and a two-hundred day moving average price of $5.64. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.32. JetBlue Airways has a 1-year low of $3.42 and a 1-year high of $9.45. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -6.45 and a beta of 1.86.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, January 30th. The transportation company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the prior year, the business earned $0.22 EPS. JetBlue Airways’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities research analysts expect that JetBlue Airways will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in JetBlue Airways by 9.2% during the third quarter. Vanguard Group Inc. now owns 36,705,537 shares of the transportation company’s stock valued at $168,845,000 after buying an additional 3,099,071 shares during the last quarter. U S Global Investors Inc. grew its holdings in JetBlue Airways by 24.2% during the 4th quarter. U S Global Investors Inc. now owns 9,781,327 shares of the transportation company’s stock valued at $54,286,000 after buying an additional 1,903,910 shares in the last quarter. Invesco Ltd. increased its position in JetBlue Airways by 107.2% in the third quarter. Invesco Ltd. now owns 3,462,036 shares of the transportation company’s stock worth $15,925,000 after purchasing an additional 1,791,273 shares during the last quarter. American Century Companies Inc. boosted its stake in JetBlue Airways by 49.6% during the third quarter. American Century Companies Inc. now owns 4,576,623 shares of the transportation company’s stock worth $21,052,000 after buying an additional 1,518,328 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of JetBlue Airways by 136.3% during the third quarter. AQR Capital Management LLC now owns 2,480,796 shares of the transportation company’s stock valued at $11,412,000 after purchasing an additional 1,431,113 shares during the period. 83.71% of the stock is currently owned by 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.