JetBlue Airways Corporation (NASDAQ:JBLU) Stock Has Consensus Target Price of $5.02

JetBlue Airways Corporation (NASDAQ:JBLU) has been given a consensus recommendation of “Reduce” by the thirteen analysts that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.02.

Several analysts recently issued reports on JBLU shares. Seaport Research Partners downgraded JetBlue Airways from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. Susquehanna lowered their price objective on JetBlue Airways from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Friday, July 17th. TD Cowen dropped their target price on JetBlue Airways from $6.00 to $5.00 and set a “hold” rating for the company in a report on Monday, August 24th. Finally, Wall Street Zen downgraded JetBlue Airways from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd.

JetBlue Airways Trading Up 4.7%

Shares of NASDAQ:JBLU opened at $3.15 on Tuesday. JetBlue Airways has a 12-month low of $2.98 and a 12-month high of $6.62. The business has a 50 day moving average of $4.55 and a 200-day moving average of $5.02. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04. The stock has a market cap of $1.19 billion, a PE ratio of -1.32 and a beta of 1.77.

JetBlue Airways (NASDAQ:JBLU) last announced 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 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 firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) earnings per share. As a group, equities research analysts forecast that JetBlue Airways will post -2.68 earnings per share for the current year.

Insider Activity at JetBlue Airways

In related news, CFO Ursula Hurley sold 77,253 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the transaction, the chief financial officer directly owned 211,099 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 83,253 shares of company stock valued at $474,477 in the last 90 days. Corporate insiders own 2.41% of the company’s stock.

Institutional Trading of JetBlue Airways

A number of institutional investors have recently bought and sold shares of JBLU. U S Global Investors Inc. grew its position in shares of JetBlue Airways by 17.2% during the 1st quarter. U S Global Investors Inc. now owns 5,542,536 shares of the transportation company’s stock worth $24,498,000 after purchasing an additional 813,782 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of JetBlue Airways in the second quarter valued at approximately $20,022,000. Primecap Management Co. CA acquired a new stake in shares of JetBlue Airways in the second quarter valued at approximately $13,549,000. Renaissance Technologies LLC raised its position in shares of JetBlue Airways by 235.9% in the first quarter. Renaissance Technologies LLC now owns 2,246,200 shares of the transportation company’s stock valued at $9,928,000 after buying an additional 1,577,500 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of JetBlue Airways in the second quarter valued at approximately $11,336,000. 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.