UBS Group Lowers JetBlue Airways (NASDAQ:JBLU) Price Target to $4.00

JetBlue Airways (NASDAQ:JBLU) had its target price lowered by UBS Group from $5.00 to $4.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “sell” rating on the transportation company’s stock. UBS Group’s price objective suggests a potential downside of 8.57% from the stock’s current price.

Several other research analysts also recently weighed in on JBLU. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Friday, July 17th. TD Cowen cut their price objective on JetBlue Airways from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Monday, August 24th. The Goldman Sachs Group increased their target price on JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a report on Thursday, July 2nd. Citigroup downgraded JetBlue Airways from a “neutral” rating to a “sell” rating and decreased their target price for the company from $6.60 to $5.30 in a research report on Friday, August 7th. Finally, Bank of America lifted their price target on JetBlue Airways from $3.50 to $4.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 1st. Six investment analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $5.46.

JetBlue Airways Stock Down 0.1%

JBLU opened at $4.38 on Thursday. JetBlue Airways has a fifty-two week low of $3.87 and a fifty-two week high of $6.62. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 0.70. The company has a fifty day moving average of $5.40 and a two-hundred day moving average of $5.13. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -1.83 and a beta of 1.70.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly 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. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the prior year, the firm posted ($0.21) EPS. JetBlue Airways’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, research analysts expect that JetBlue Airways will post -2.33 earnings per share for the current year.

Insider Buying and Selling

In other JetBlue Airways news, CFO Ursula Hurley sold 77,253 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $5.76, for a total value of $444,977.28. Following the transaction, the chief financial officer directly owned 211,099 shares in the company, valued at $1,215,930.24. The trade was a 26.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 81,253 shares of company stock worth $465,897 over the last quarter. 2.41% of the stock is owned by insiders.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JBLU. The Manufacturers Life Insurance Company grew its holdings 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 holdings in JetBlue Airways by 95.6% in the second quarter. WINTON GROUP Ltd now owns 553,212 shares of the transportation company’s stock valued at $3,170,000 after purchasing an additional 270,358 shares during the period. Engineers Gate Manager LP raised its position in JetBlue Airways by 1,110.5% in the 2nd quarter. Engineers Gate Manager LP now owns 173,100 shares of the transportation company’s stock valued at $992,000 after purchasing an additional 158,800 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in JetBlue Airways in the second quarter valued at approximately $169,000. Finally, NewEdge Advisors LLC lifted its position in shares of JetBlue Airways by 3,003.5% during the 2nd quarter. NewEdge Advisors LLC now owns 33,456 shares of the transportation company’s stock worth $192,000 after purchasing an additional 32,378 shares during 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.