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

JetBlue Airways (NASDAQ:JBLU) had its target price decreased by investment analysts at Barclays from $7.00 to $4.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the transportation company’s stock. Barclays‘s price objective would suggest a potential upside of 9.74% from the stock’s previous close.

A number of other brokerages have also issued reports on JBLU. Seaport Res Ptn lowered JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Susquehanna cut their target price on JetBlue Airways from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday. Morgan Stanley reissued an “equal weight” rating and issued a $8.00 price target on shares of JetBlue Airways in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft lowered shares of JetBlue Airways from a “buy” rating to a “hold” rating and cut their price objective for the company from $9.00 to $7.00 in a report on Tuesday, March 4th. Finally, Raymond James upgraded shares of JetBlue Airways from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research report on Monday. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.45.

JetBlue Airways Stock Performance

NASDAQ:JBLU traded down $0.41 during mid-day trading on Tuesday, hitting $3.65. 27,199,090 shares of the company traded hands, compared to its average volume of 17,887,703. The company has a quick ratio of 1.18, a current ratio of 1.10 and a debt-to-equity ratio of 3.08. The stock’s fifty day moving average price is $5.99 and its 200-day moving average price is $6.60. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -1.56 and a beta of 1.69. JetBlue Airways has a one year low of $3.61 and a one year high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same quarter in the previous year, the business posted ($0.19) EPS. Research analysts anticipate that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, CFO Ursula L. Hurley sold 15,000 shares of the business’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 sale, the chief financial officer now directly owns 41,833 shares of the company’s stock, valued at $313,747.50. The trade was a 26.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nik Mittal acquired 100,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $6.14 per share, with a total value of $614,000.00. Following the completion of the purchase, the director now directly owns 116,443 shares in the company, valued at approximately $714,960.02. The trade was a 608.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds and other institutional investors have recently made changes to their positions in JBLU. GAMMA Investing LLC increased its stake in JetBlue Airways by 164.9% in the 1st quarter. GAMMA Investing LLC now owns 22,124 shares of the transportation company’s stock worth $107,000 after buying an additional 13,771 shares during the period. Forum Financial Management LP purchased a new position in JetBlue Airways during the 4th quarter worth $111,000. Neo Ivy Capital Management bought a new stake in JetBlue Airways during the 4th quarter valued at $2,130,000. Vise Technologies Inc. purchased a new stake in shares of JetBlue Airways in the 4th quarter worth $89,000. Finally, PharVision Advisers LLC bought a new position in shares of JetBlue Airways during the 4th quarter worth $94,000. 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.