JetBlue Airways Corporation (NASDAQ:JBLU) Receives Consensus Rating of “Reduce” from Brokerages

JetBlue Airways Corporation (NASDAQ:JBLU) has been assigned a consensus recommendation of “Reduce” from the twelve research firms that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $5.5050.

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of JetBlue Airways from $6.00 to $6.75 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Raymond James Financial reissued an “underperform” rating on shares of JetBlue Airways in a research note on Monday, July 6th. Bank of America raised their price target on JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a report on Wednesday, July 1st. UBS Group raised their target price on shares of JetBlue Airways from $4.00 to $4.50 and gave the company a “sell” rating in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a report on Thursday, July 2nd.

Insiders Place Their Bets

In other JetBlue Airways news, CFO Ursula L. Hurley sold 77,253 shares of the stock in a transaction on 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 directly owned 211,099 shares in the company, valued at approximately $1,215,930.24. This trade represents a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.41% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its position in shares of JetBlue Airways by 131.2% during the first quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company’s stock worth $436,000 after buying an additional 51,377 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of JetBlue Airways by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company’s stock valued at $896,000 after buying an additional 8,053 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of JetBlue Airways by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company’s stock valued at $23,085,000 after acquiring an additional 274,892 shares during the period. United Services Automobile Association bought a new position in JetBlue Airways during the first quarter worth about $106,000. Finally, Cetera Investment Advisers increased its holdings in shares of JetBlue Airways by 10.7% during the 2nd quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock worth $130,000 after acquiring an additional 2,954 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Stock Performance

Shares of JBLU opened at $4.80 on Monday. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 0.70. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -2.01 and a beta of 1.74. The stock has a fifty day moving average price of $5.59 and a two-hundred day moving average price of $5.21. JetBlue Airways has a 52-week low of $3.87 and a 52-week high of $6.62.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.03. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the prior year, the business earned ($0.21) earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts predict that JetBlue Airways will post -2.33 EPS for the current fiscal year.

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.