JetBlue Airways (NASDAQ:JBLU) Price Target Lowered to $3.00 at UBS Group

JetBlue Airways (NASDAQ:JBLU) had its target price reduced by research analysts at UBS Group from $5.00 to $3.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “sell” rating on the transportation company’s stock. UBS Group’s target price suggests a potential downside of 25.82% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Bank of America decreased their price target on shares of JetBlue Airways from $5.25 to $4.25 and set an “underperform” rating on the stock in a report on Thursday. Citigroup upped their target price on JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Morgan Stanley reiterated an “equal weight” rating and set a $8.00 price target on shares of JetBlue Airways in a research report on Wednesday, December 11th. Raymond James raised JetBlue Airways from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a report on Monday. Finally, Susquehanna lowered their target price on shares of JetBlue Airways from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.70.

JetBlue Airways Stock Performance

Shares of NASDAQ JBLU traded up $0.10 during mid-day trading on Monday, hitting $4.04. The company had a trading volume of 22,676,243 shares, compared to its average volume of 17,837,185. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. JetBlue Airways has a 1 year low of $3.62 and a 1 year high of $8.31. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -1.73 and a beta of 1.69. The stock’s 50-day moving average price is $6.07 and its 200-day moving average price is $6.61.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same quarter in the previous year, the firm earned ($0.19) EPS. On average, sell-side analysts forecast that JetBlue Airways will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Nik Mittal acquired 100,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was purchased at an average price of $6.14 per share, for a total transaction of $614,000.00. Following the completion of the transaction, the director now owns 116,443 shares of the company’s stock, valued at $714,960.02. This trade represents a 608.16 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ursula L. Hurley sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total transaction of $112,500.00. Following the completion of the transaction, the chief financial officer now owns 41,833 shares in the company, valued at $313,747.50. This represents a 26.39 % decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On JetBlue Airways

Several institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its stake in JetBlue Airways by 6.4% during the fourth quarter. CIBC Asset Management Inc now owns 30,416 shares of the transportation company’s stock worth $239,000 after acquiring an additional 1,823 shares in the last quarter. Xponance Inc. boosted its position in shares of JetBlue Airways by 10.2% in the 4th quarter. Xponance Inc. now owns 22,613 shares of the transportation company’s stock worth $178,000 after purchasing an additional 2,095 shares in the last quarter. Vident Advisory LLC boosted its position in shares of JetBlue Airways by 10.9% in the 4th quarter. Vident Advisory LLC now owns 23,181 shares of the transportation company’s stock worth $182,000 after purchasing an additional 2,284 shares in the last quarter. Blue Trust Inc. grew its stake in shares of JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after buying an additional 2,538 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its position in JetBlue Airways by 8.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 32,679 shares of the transportation company’s stock valued at $257,000 after buying an additional 2,666 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

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.