TD Cowen Cuts JetBlue Airways (NASDAQ:JBLU) Price Target to $4.00

JetBlue Airways (NASDAQ:JBLU) had its price objective decreased by analysts at TD Cowen from $5.00 to $4.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the transportation company’s stock. TD Cowen’s price target would indicate a potential downside of 5.77% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Morgan Stanley reduced their target price on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, December 8th. The Goldman Sachs Group boosted their price objective on JetBlue Airways from $3.50 to $4.00 and gave the stock a “sell” rating in a research report on Tuesday, January 13th. Evercore raised their target price on JetBlue Airways from $5.00 to $6.00 and gave the company an “in-line” rating in a research report on Thursday, January 29th. Susquehanna increased their price target on JetBlue Airways from $4.55 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Thursday, January 22nd. Seven research analysts have rated the stock with 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 $5.02.

JetBlue Airways Stock Down 5.5%

Shares of JBLU traded down $0.25 during trading hours on Monday, reaching $4.25. 18,070,943 shares of the stock traded hands, compared to its average volume of 19,842,549. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 3.65. The stock has a fifty day simple moving average of $5.33 and a 200 day simple moving average of $4.95. JetBlue Airways has a 52 week low of $3.34 and a 52 week high of $6.50. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -2.54 and a beta of 1.71.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data 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 return on equity of 25.62% and a negative net margin of 6.64%.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 previous year, the company posted ($0.21) earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts forecast that JetBlue Airways will post -0.69 EPS for the current year.

Hedge Funds Weigh In On JetBlue Airways

Several hedge funds have recently made changes to their positions in JBLU. Caitong International Asset Management Co. Ltd lifted its position 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 during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of JetBlue Airways during the 4th quarter worth $30,000. Leonteq Securities AG purchased a new position in JetBlue Airways in the fourth quarter worth $32,000. Bogart Wealth LLC increased its stake in JetBlue Airways by 12,727.3% in the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in JetBlue Airways during the fourth quarter valued at about $41,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

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.