JetBlue Airways (NASDAQ:JBLU) Given New $4.50 Price Target at The Goldman Sachs Group

JetBlue Airways (NASDAQ:JBLU) had its target price raised by equities researchers at The Goldman Sachs Group from $3.50 to $4.50 in a report released on Thursday,Benzinga reports. The brokerage currently has a “sell” rating on the transportation company’s stock. The Goldman Sachs Group’s target price indicates a potential downside of 23.99% from the company’s previous close.

Several other equities analysts have also commented on the stock. Seaport Research Partners raised shares of JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Thursday, April 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a research report on Tuesday, April 21st. Bank of America upped their price target on shares of JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a research note on Wednesday. Citigroup boosted their price objective on shares of JetBlue Airways from $4.40 to $6.60 and gave the company a “neutral” rating in a report on Friday, June 26th. Finally, TD Cowen raised JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $5.21.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $5.92 on Thursday. JetBlue Airways has a 12-month low of $3.87 and a 12-month high of $6.50. The business’s fifty day simple moving average is $5.13 and its 200-day simple moving average is $5.07. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 4.25. The company has a market cap of $2.20 billion, a PE ratio of -3.05 and a beta of 1.73.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.59) earnings per share. Analysts expect that JetBlue Airways will post -2.67 earnings per share for the current fiscal year.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, Director Vivek Sharma sold 32,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total transaction of $173,120.00. Following the completion of the transaction, the director directly owned 35,479 shares of the company’s stock, valued at approximately $191,941.39. This trade represents a 47.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas Winkelmann sold 35,473 shares of JetBlue Airways stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $4.70, for a total transaction of $166,723.10. Following the sale, the director owned 13,379 shares of the company’s stock, valued at approximately $62,881.30. The trade was a 72.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.41% of the company’s stock.

Institutional Trading of JetBlue Airways

Several large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings in shares of JetBlue Airways by 85.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 12,124,292 shares of the transportation company’s stock worth $55,166,000 after purchasing an additional 5,591,470 shares during the last quarter. Deutsche Bank AG boosted its holdings in JetBlue Airways by 1,157.9% in the fourth quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company’s stock valued at $15,270,000 after purchasing an additional 3,089,226 shares during the last quarter. Par Capital Management Inc. boosted its holdings in JetBlue Airways by 105.3% in the second quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock valued at $23,212,000 after purchasing an additional 2,814,870 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in JetBlue Airways during the 4th quarter worth about $8,795,000. Finally, Renaissance Technologies LLC grew its position in JetBlue Airways by 235.9% during the 1st quarter. Renaissance Technologies LLC now owns 2,246,200 shares of the transportation company’s stock worth $9,928,000 after purchasing an additional 1,577,500 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

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.