JetBlue Airways Corporation (NASDAQ:JBLU) Stock Has Consensus Target Price of $5.41 According to Analysts

JetBlue Airways Corporation (NASDAQ:JBLU) has been given an average rating of “Reduce” by the thirteen analysts that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $5.41.

A number of equities analysts have recently issued reports on JBLU shares. Bank of America increased their price objective on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 1st. Barclays cut their price target on JetBlue Airways from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, September 11th. BMO Capital Markets raised their price objective on JetBlue Airways from $6.00 to $6.75 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. TD Cowen cut their target price on JetBlue Airways from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Monday, August 24th. Finally, Susquehanna boosted their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th.

JetBlue Airways Stock Performance

NASDAQ:JBLU opened at $4.35 on Friday. 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 has a twelve month low of $3.87 and a twelve month high of $6.62. The company has a fifty day moving average of $5.10 and a 200-day moving average of $5.06. The firm has a market capitalization of $1.64 billion, a P/E ratio of -1.82 and a beta of 1.70.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share (EPS) 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 business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the firm earned ($0.21) earnings per share. JetBlue Airways’s revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts anticipate that JetBlue Airways will post -2.42 EPS for the current year.

Insider Activity at JetBlue Airways

In related news, CFO Ursula Hurley sold 77,253 shares of the company’s stock in a transaction dated 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 owned 211,099 shares in the company, valued at $1,215,930.24. This represents a 26.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 81,253 shares of company stock worth $465,897 over the last ninety days. Insiders own 2.41% of the company’s stock.

Institutional Investors Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently bought and sold shares of the stock. U S Global Investors Inc. grew its stake in shares of JetBlue Airways by 17.2% in the 1st quarter. U S Global Investors Inc. now owns 5,542,536 shares of the transportation company’s stock worth $24,498,000 after acquiring an additional 813,782 shares in the last quarter. Bank of America Corp DE purchased a new position in JetBlue Airways during the second quarter worth about $20,022,000. Primecap Management Co. CA bought a new stake in JetBlue Airways in the 2nd quarter worth about $13,549,000. Bank of New York Mellon Corp purchased a new stake in JetBlue Airways in the 2nd quarter valued at about $11,336,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in JetBlue Airways in the 2nd quarter valued at about $10,748,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

About JetBlue Airways

JetBlue Airways Corporation (NASDAQ: JBLU) is a passenger airline that provides scheduled air transportation in the United States, the Caribbean, Latin America, Canada and select destinations in Europe. The company serves leisure and business travelers through a network connecting major cities, focus cities and vacation destinations.

JetBlue offers several travel products and services, including standard economy seating, premium Mint service on select routes, and EvenMore seating with additional legroom and other benefits.