JetBlue Airways (NASDAQ:JBLU) Price Target Lowered to $4.00 at Citigroup

JetBlue Airways (NASDAQ:JBLU) had its target price decreased by research analysts at Citigroup from $4.10 to $4.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “sell” rating on the transportation company’s stock. Citigroup’s target price indicates a potential downside of 20.56% from the stock’s previous close.

A number of other research analysts also recently commented on JBLU. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Wednesday, October 8th. Morgan Stanley reduced their price target on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, December 8th. TD Cowen lifted their price target on JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Susquehanna boosted their price objective on JetBlue Airways from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Six research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, JetBlue Airways has a consensus rating of “Reduce” and an average price target of $5.03.

JetBlue Airways Stock Down 0.7%

Shares of NASDAQ:JBLU traded down $0.04 during mid-day trading on Wednesday, hitting $5.04. 9,829,953 shares of the company traded hands, compared to its average volume of 17,561,510. The firm has a market cap of $1.83 billion, a P/E ratio of -3.81 and a beta of 1.78. The firm’s 50 day simple moving average is $4.54 and its 200 day simple moving average is $4.67. JetBlue Airways has a 52-week low of $3.34 and a 52-week high of $8.31. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.77 and a current ratio of 0.82.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, October 28th. The transportation company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. JetBlue Airways had a negative net margin of 5.16% and a negative return on equity of 19.87%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.16) earnings per share. On average, equities analysts anticipate that JetBlue Airways will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in JBLU. Par Capital Management Inc. increased its position in JetBlue Airways by 105.3% during the second quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock worth $23,212,000 after buying an additional 2,814,870 shares in the last quarter. Prentice Capital Management LP boosted its position in JetBlue Airways by 210.4% during the 3rd quarter. Prentice Capital Management LP now owns 2,276,428 shares of the transportation company’s stock worth $11,200,000 after purchasing an additional 1,542,959 shares during the period. Assenagon Asset Management S.A. boosted its holdings in JetBlue Airways by 755.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,659,497 shares of the transportation company’s stock worth $7,020,000 after acquiring an additional 1,465,500 shares during the period. Amundi grew its holdings in JetBlue Airways by 962.8% during the 1st quarter. Amundi now owns 1,588,941 shares of the transportation company’s stock valued at $7,659,000 after purchasing an additional 1,439,435 shares in the last quarter. Finally, U S Global Investors Inc. grew its stake in shares of JetBlue Airways by 25.2% during the second quarter. U S Global Investors Inc. now owns 5,021,419 shares of the transportation company’s stock valued at $21,241,000 after acquiring an additional 1,011,279 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Company Profile

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.