JetBlue Airways (NASDAQ:JBLU) Stock Price Target Cut by Susquehanna

JetBlue Airways (NASDAQ:JBLU) had its price target lowered by analysts at Susquehanna from $6.00 to $4.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price objective would suggest a potential upside of 2.04% from the company’s previous close.

A number of other research firms also recently issued reports on JBLU. Seaport Research Partners downgraded shares of JetBlue Airways from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. Bank of America lifted their price objective on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded shares of JetBlue Airways from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Barclays decreased their target price on shares of JetBlue Airways from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, September 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a report on Friday, July 17th. 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 a consensus rating of “Reduce” and an average price target of $5.02.

JetBlue Airways Stock Performance

NASDAQ:JBLU opened at $3.92 on Wednesday. The company has a debt-to-equity ratio of 5.04, a current ratio of 0.70 and a quick ratio of 0.63. JetBlue Airways has a 1 year low of $3.79 and a 1 year high of $6.62. The stock’s 50 day simple moving average is $4.84 and its two-hundred day simple moving average is $5.05. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -1.64 and a beta of 1.77.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data 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. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned ($0.21) EPS. As a group, equities analysts anticipate that JetBlue Airways will post -2.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Ursula Hurley sold 77,253 shares of the firm’s stock in a transaction 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 sale, the chief financial officer directly owned 211,099 shares in the company, valued at $1,215,930.24. This trade represents a 26.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 83,253 shares of company stock worth $474,477. Corporate insiders own 2.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in JetBlue Airways by 101.2% during the third quarter. Farther Finance Advisors LLC now owns 14,031 shares of the transportation company’s stock valued at $59,000 after acquiring an additional 7,059 shares during the last quarter. Cim Investment Management Inc. lifted its holdings in shares of JetBlue Airways by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 47,282 shares of the transportation company’s stock worth $271,000 after acquiring an additional 3,203 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of JetBlue Airways by 15.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 157,664 shares of the transportation company’s stock worth $903,000 after purchasing an additional 21,131 shares during the period. WINTON GROUP Ltd boosted its stake in shares of 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 purchasing an additional 270,358 shares during the period. Finally, Engineers Gate Manager LP boosted its stake in shares of JetBlue Airways by 1,110.5% during the 2nd quarter. Engineers Gate Manager LP now owns 173,100 shares of the transportation company’s stock worth $992,000 after purchasing an additional 158,800 shares during the period. Institutional investors own 83.71% of the company’s stock.

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.