Susquehanna Has Lowered Expectations for JetBlue Airways (NASDAQ:JBLU) Stock Price

JetBlue Airways (NASDAQ:JBLU) had its price objective lowered by stock analysts at Susquehanna from $6.00 to $4.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s target price indicates a potential downside of 0.74% from the stock’s previous close.

JBLU has been the subject of a number of other reports. Bank of America increased their price target on JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a research note on Wednesday, July 1st. UBS Group lowered their price target on shares of JetBlue Airways from $5.00 to $4.00 and set a “sell” rating for the company in a research report on Thursday, September 10th. Barclays lowered their price objective on JetBlue Airways from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, September 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Friday, July 17th. Finally, Citigroup raised JetBlue Airways from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $5.30 to $4.50 in a report on Tuesday. Eight investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $5.02.

JetBlue Airways Stock Down 0.7%

Shares of JetBlue Airways stock opened at $4.03 on Wednesday. The company has a 50-day simple moving average of $4.91 and a two-hundred day simple moving average of $5.06. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 0.70. JetBlue Airways has a 52-week low of $3.87 and a 52-week high of $6.62. The stock has a market capitalization of $1.52 billion, a PE ratio of -1.69 and a beta of 1.77.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.03. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.69 billion. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.21) EPS. On average, analysts anticipate that JetBlue Airways will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling at JetBlue Airways

In other JetBlue Airways news, CFO Ursula Hurley sold 77,253 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was 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. This trade represents a 26.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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. Insiders own 2.41% of the company’s stock.

Institutional Trading of JetBlue Airways

Institutional investors have recently added to or reduced their stakes in the stock. Cim Investment Management Inc. boosted its stake in JetBlue Airways by 7.3% in the second quarter. Cim Investment Management Inc. now owns 47,282 shares of the transportation company’s stock valued at $271,000 after acquiring an additional 3,203 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of JetBlue Airways by 15.5% in the second quarter. The Manufacturers Life Insurance Company now owns 157,664 shares of the transportation company’s stock worth $903,000 after acquiring an additional 21,131 shares in the last quarter. WINTON GROUP Ltd boosted its position in JetBlue Airways by 95.6% during the 2nd quarter. WINTON GROUP Ltd now owns 553,212 shares of the transportation company’s stock worth $3,170,000 after acquiring an additional 270,358 shares during the period. Engineers Gate Manager LP increased its stake in shares of JetBlue Airways by 1,110.5% in the second quarter. Engineers Gate Manager LP now owns 173,100 shares of the transportation company’s stock worth $992,000 after acquiring an additional 158,800 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in JetBlue Airways in the second quarter worth approximately $169,000. 83.71% of the stock is owned by institutional investors and hedge funds.

About JetBlue Airways

JetBlue Airways Corp. (NASDAQ:JBLU) is a passenger airline that provides scheduled air transportation in the United States, the Caribbean, Latin America and select destinations in Canada and Europe. The company serves leisure and business travelers through a network centered on major U.S. airports, including New York, Boston, Fort Lauderdale and Orlando.

JetBlue offers multiple travel products, including its core economy service and premium Mint cabins on select routes. Its onboard offerings have included complimentary snacks and beverages, seatback entertainment, Wi-Fi and additional-legroom seating options marketed as Even More Space.