JetBlue Airways (NASDAQ:JBLU) Reaches New 52-Week Low – Time to Sell?

JetBlue Airways Corporation (NASDAQ:JBLU) shares reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $2.38 and last traded at $2.3550, with a volume of 9,262,206 shares changing hands. The stock had previously closed at $2.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on JBLU shares. TD Cowen reduced their price target on JetBlue Airways from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Monday, August 24th. Barclays lowered their target price on JetBlue Airways from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, September 11th. BMO Capital Markets cut their price objective on JetBlue Airways from $6.75 to $5.25 and set a “market perform” rating for the company in a report on Monday, September 28th. UBS Group raised shares of JetBlue Airways from a “sell” rating to a “neutral” rating and decreased their target price for the company from $4.00 to $3.50 in a research note on Monday, October 19th. Finally, The Goldman Sachs Group boosted their price target on JetBlue Airways from $3.50 to $4.50 and gave the stock a “sell” rating in a research report on Thursday, July 2nd. Nine investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $4.98.

JetBlue Airways Price Performance

The company has a 50 day moving average price of $4.19 and a 200-day moving average price of $4.95. The company has a market cap of $850.83 million, a price-to-earnings ratio of -0.94 and a beta of 1.77. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.03. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. JetBlue Airways’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts predict that JetBlue Airways Corporation will post -2.77 EPS for the current fiscal year.

Insider Activity

In other news, CFO Ursula Hurley sold 77,253 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $5.76, for a total value of $444,977.28. Following the sale, the chief financial officer directly owned 211,099 shares of the company’s stock, valued at approximately $1,215,930.24. The trade was a 26.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 83,253 shares of company stock valued at $474,477 over the last ninety days. Corporate insiders own 2.41% of the company’s stock.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds and other institutional investors have recently made changes to their positions in JBLU. Cim Investment Management Inc. grew its holdings in shares of JetBlue Airways by 7.3% during the second quarter. Cim Investment Management Inc. now owns 47,282 shares of the transportation company’s stock valued at $271,000 after buying an additional 3,203 shares during the last quarter. Amundi increased its stake in JetBlue Airways by 8.9% in the 1st quarter. Amundi now owns 39,447 shares of the transportation company’s stock worth $174,000 after buying an additional 3,238 shares during the period. Rockefeller Capital Management L.P. boosted its position in JetBlue Airways by 157.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 3,373 shares in the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of JetBlue Airways by 62.1% during the 1st quarter. Kestra Advisory Services LLC now owns 10,809 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 4,142 shares during the last quarter. Finally, Trust Co. of Vermont purchased a new position in JetBlue Airways in the 2nd quarter worth $26,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation is a U.S.-based passenger airline that provides scheduled air transportation to destinations across the United States, the Caribbean, Latin America and select locations in Europe. The company operates primarily from focus cities including New York, Boston, Fort Lauderdale, Orlando and Los Angeles, with a network designed to connect major metropolitan areas and leisure destinations.

JetBlue offers multiple classes and service options, including standard economy seating, extra-legroom EvenMore seats and its premium Mint service on select routes.