JetBlue Airways (NASDAQ:JBLU) Stock Price Down 3.9% – Time to Sell?

JetBlue Airways Co. (NASDAQ:JBLU) shares fell 3.9% on Thursday . The stock traded as low as $7.54 and last traded at $7.55. 8,512,920 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 15,973,212 shares. The stock had previously closed at $7.86.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Citigroup lifted their target price on JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. TD Cowen upped their target price on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, September 6th. The Goldman Sachs Group restated a “sell” rating and issued a $5.50 target price on shares of JetBlue Airways in a research note on Friday, November 15th. Barclays upped their price objective on shares of JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a research report on Thursday, November 14th. Finally, StockNews.com raised shares of JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.55.

JetBlue Airways Stock Performance

The stock has a 50-day simple moving average of $6.70 and a 200 day simple moving average of $6.19. The company has a market capitalization of $2.63 billion, a PE ratio of -3.00 and a beta of 1.92. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the business posted ($0.39) earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts anticipate that JetBlue Airways Co. will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

A number of institutional investors have recently modified their holdings of JBLU. JPMorgan Chase & Co. lifted its stake in shares of JetBlue Airways by 88.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company’s stock worth $36,170,000 after acquiring an additional 2,584,350 shares during the period. Point72 Asset Management L.P. grew its position in JetBlue Airways by 715.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock worth $9,930,000 after purchasing an additional 1,430,622 shares in the last quarter. American Century Companies Inc. raised its position in JetBlue Airways by 16.4% during the second quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock valued at $48,970,000 after buying an additional 1,135,217 shares during the period. BNP Paribas Financial Markets grew its position in JetBlue Airways by 429.7% during the third quarter. BNP Paribas Financial Markets now owns 1,232,385 shares of the transportation company’s stock valued at $8,084,000 after purchasing an additional 999,713 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of JetBlue Airways in the 3rd quarter valued at approximately $5,311,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.