JetBlue Airways (NASDAQ:JBLU) Reaches New 12-Month Low After Analyst Downgrade

JetBlue Airways Co. (NASDAQ:JBLU)’s share price reached a new 52-week low on Monday after Barclays lowered their price target on the stock from $7.00 to $4.00. Barclays currently has an underweight rating on the stock. JetBlue Airways traded as low as $3.62 and last traded at $3.73, with a volume of 51212294 shares changing hands. The stock had previously closed at $4.17.

Several other research firms have also recently issued reports on JBLU. Citigroup increased their target price on shares of 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 reissued an “equal weight” rating and set a $8.00 price objective on shares of JetBlue Airways in a research note on Wednesday, December 11th. UBS Group decreased their target price on JetBlue Airways from $5.00 to $3.00 and set a “sell” rating on the stock in a research note on Monday. Seaport Res Ptn downgraded JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Bank of America cut their price objective on JetBlue Airways from $5.25 to $4.25 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, JetBlue Airways currently has an average rating of “Hold” and a consensus target price of $5.45.

Insider Activity

In other news, Director Nik Mittal purchased 100,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were acquired at an average price of $6.14 per share, with a total value of $614,000.00. Following the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ursula L. Hurley sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total transaction of $112,500.00. Following the transaction, the chief financial officer now directly owns 41,833 shares of the company’s stock, valued at approximately $313,747.50. This trade represents a 26.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC lifted its position in shares of JetBlue Airways by 399.6% in the 3rd quarter. HighTower Advisors LLC now owns 107,246 shares of the transportation company’s stock worth $704,000 after purchasing an additional 85,781 shares during the period. Stifel Financial Corp lifted its holdings in JetBlue Airways by 21.4% in the third quarter. Stifel Financial Corp now owns 525,024 shares of the transportation company’s stock worth $3,444,000 after buying an additional 92,468 shares during the period. XTX Topco Ltd boosted its position in JetBlue Airways by 186.4% during the 3rd quarter. XTX Topco Ltd now owns 106,910 shares of the transportation company’s stock valued at $701,000 after acquiring an additional 69,584 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of JetBlue Airways during the 3rd quarter worth approximately $1,973,000. Finally, Virtu Financial LLC bought a new position in shares of JetBlue Airways in the 3rd quarter worth approximately $307,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Trading Down 11.1 %

The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. The company has a market cap of $1.28 billion, a PE ratio of -1.54 and a beta of 1.69. The stock has a 50 day moving average price of $5.89 and a 200 day moving average price of $6.56.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) EPS 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 last year, the company earned ($0.19) earnings per share. Sell-side analysts predict that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

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.