UBS Group Cuts JetBlue Airways (NASDAQ:JBLU) Price Target to $3.50

JetBlue Airways (NASDAQ:JBLU) had its target price cut by UBS Group from $4.00 to $3.50 in a research report report published on Monday,Benzinga reports. They currently have a sell rating on the transportation company’s stock.

Several other analysts also recently weighed in on the company. Susquehanna lifted their target price on JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Citigroup raised JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 price target for the company in a research note on Tuesday, February 3rd. The Goldman Sachs Group raised their price target on JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a report on Tuesday, January 13th. Morgan Stanley reduced their price objective on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, December 8th. Finally, Evercore increased their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the company an “in-line” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, JetBlue Airways has an average rating of “Reduce” and a consensus target price of $4.98.

JetBlue Airways Price Performance

NASDAQ JBLU opened at $4.06 on Monday. The company has a 50-day moving average price of $5.25 and a two-hundred day moving average price of $4.90. JetBlue Airways has a 52 week low of $3.34 and a 52 week high of $6.50. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -2.43 and a beta of 1.72. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 3.65.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the firm posted ($0.21) EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts forecast that JetBlue Airways will post -0.69 EPS for the current year.

Hedge Funds Weigh In On JetBlue Airways

Several hedge funds have recently modified their holdings of the company. Stifel Financial Corp lifted its holdings in shares of JetBlue Airways by 0.6% in the fourth quarter. Stifel Financial Corp now owns 326,990 shares of the transportation company’s stock valued at $1,488,000 after buying an additional 1,928 shares during the period. Vident Advisory LLC grew its holdings in JetBlue Airways by 20.2% during the fourth quarter. Vident Advisory LLC now owns 13,232 shares of the transportation company’s stock worth $60,000 after acquiring an additional 2,226 shares during the period. CWM LLC grew its holdings in JetBlue Airways by 3.2% during the third quarter. CWM LLC now owns 78,200 shares of the transportation company’s stock worth $385,000 after acquiring an additional 2,394 shares during the period. Essex Financial Services Inc. raised its position in JetBlue Airways by 12.4% in the fourth quarter. Essex Financial Services Inc. now owns 23,504 shares of the transportation company’s stock worth $107,000 after acquiring an additional 2,599 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in JetBlue Airways by 10.7% in the second 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 in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.