TD Cowen Issues Pessimistic Forecast for JetBlue Airways (NASDAQ:JBLU) Stock Price

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

JBLU has been the topic of a number of other research reports. Citigroup upgraded shares of JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 target price on the stock in a research report on Tuesday, February 3rd. Morgan Stanley decreased their price objective on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, December 8th. Evercore boosted their target price on JetBlue Airways from $5.00 to $6.00 and gave the company an “in-line” rating in a research note on Thursday, January 29th. Susquehanna increased their target price on JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a report on Friday, January 9th. Finally, The Goldman Sachs Group lifted their price target on JetBlue Airways from $3.50 to $4.00 and gave the stock a “sell” rating in a research note on Tuesday, January 13th. Seven analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $5.02.

JetBlue Airways Price Performance

JBLU traded down $0.25 during midday trading on Monday, hitting $4.25. The stock had a trading volume of 18,070,943 shares, compared to its average volume of 19,842,549. JetBlue Airways has a 1 year low of $3.34 and a 1 year high of $6.50. The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.69 and a current ratio of 0.74. The business has a fifty day moving average of $5.33 and a 200 day moving average of $4.95. The company has a market cap of $1.57 billion, a P/E ratio of -2.54 and a beta of 1.71.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the business posted ($0.21) earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts forecast that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

A number of large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its stake in shares of JetBlue Airways by 639.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after acquiring an additional 5,049 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in JetBlue Airways during the fourth quarter worth about $30,000. Leonteq Securities AG purchased a new stake in JetBlue Airways in the fourth quarter worth about $32,000. Bogart Wealth LLC increased its stake in shares of JetBlue Airways by 12,727.3% during the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of JetBlue Airways during the fourth quarter valued at approximately $41,000. 83.71% of the stock is currently owned by 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.