JetBlue Airways (NASDAQ:JBLU) Sets New 1-Year Low – Time to Sell?

JetBlue Airways Corporation (NASDAQ:JBLU) reached a new 52-week low during 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. The stock had previously closed at $2.63.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JBLU shares. BMO Capital Markets cut their target price on JetBlue Airways from $6.75 to $5.25 and set a “market perform” rating on the stock in a research report on Monday, September 28th. Wall Street Zen lowered shares of JetBlue Airways from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Thursday, October 15th. Citigroup upgraded shares of JetBlue Airways from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $5.30 to $4.50 in a research report on Tuesday, October 6th. Finally, Seaport Research Partners cut JetBlue Airways from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. Nine research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $4.98.

JetBlue Airways Price Performance

The stock has a 50-day simple moving average of $4.19 and a 200 day simple moving average of $4.95. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 5.04. The stock has a market capitalization of $850.83 million, a price-to-earnings ratio of -0.94 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) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.03. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.69 billion. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.21) earnings per share. On average, equities research analysts forecast that JetBlue Airways Corporation will post -2.77 EPS for the current fiscal year.

Insider Activity at JetBlue Airways

In related news, CFO Ursula Hurley sold 77,253 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $5.76, for a total value of $444,977.28. Following the completion of the transaction, the chief financial officer directly owned 211,099 shares of the company’s stock, valued at $1,215,930.24. This trade represents a 26.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 83,253 shares of company stock valued at $474,477. 2.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On JetBlue Airways

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

About JetBlue Airways

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.