JetBlue Airways (NASDAQ:JBLU) Hits New 12-Month Low on Analyst Downgrade

JetBlue Airways Corporation (NASDAQ:JBLU)’s share price hit a new 52-week low during trading on Thursday after Susquehanna lowered their price target on the stock from $6.00 to $4.00. Susquehanna currently has a neutral rating on the stock. JetBlue Airways traded as low as $3.87 and last traded at $3.9150, with a volume of 2029496 shares trading hands. The stock had previously closed at $3.97.

Other analysts have also recently issued reports about the company. Raymond James Financial reaffirmed an “underperform” rating on shares of JetBlue Airways in a report on Monday, July 6th. TD Cowen cut their target price on shares of JetBlue Airways from $6.00 to $5.00 and set a “hold” rating for the company in a report on Monday, August 24th. UBS Group reduced their price target on shares of JetBlue Airways from $5.00 to $4.00 and set a “sell” rating on the stock in a research report on Thursday, September 10th. Wall Street Zen downgraded shares of JetBlue Airways from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Finally, Seaport Research Partners lowered shares of JetBlue Airways from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Eight 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, the company has a consensus rating of “Reduce” and an average price target of $5.02.

Insider Buying and Selling at JetBlue Airways

In related news, CFO Ursula Hurley sold 77,253 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $5.76, for a total transaction of $444,977.28. Following the sale, the chief financial officer owned 211,099 shares in the company, valued at approximately $1,215,930.24. This represents a 26.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 83,253 shares of company stock worth $474,477. Insiders own 2.41% of the company’s stock.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds and other institutional investors have recently made changes to their positions in JBLU. Trust Co. of Vermont purchased a new position in shares of JetBlue Airways during the second quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of JetBlue Airways in the second quarter valued at about $27,000. Rockefeller Capital Management L.P. raised its holdings in shares of JetBlue Airways by 157.3% in the 4th 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 in the last quarter. Essential Partners LLC lifted its position in shares of JetBlue Airways by 1,048.5% in the 1st quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock worth $32,000 after purchasing an additional 6,658 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of JetBlue Airways by 162.2% during the second quarter. EverSource Wealth Advisors LLC now owns 7,707 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 4,768 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Trading Down 1.6%

The stock has a market capitalization of $1.47 billion, a P/E ratio of -1.64 and a beta of 1.77. The stock’s 50 day moving average price is $4.88 and its 200-day moving average price is $5.05. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04.

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, topping analysts’ consensus estimates of ($0.69) by $0.03. The company had revenue of $2.70 billion during 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%.JetBlue Airways’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) earnings per share. As a group, equities research analysts expect that JetBlue Airways Corporation will post -2.48 earnings per share for the current year.

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.