UBS Group Lowers JetBlue Airways (NASDAQ:JBLU) Price Target to $3.50

JetBlue Airways (NASDAQ:JBLU) had its target price reduced by stock analysts at UBS Group from $4.00 to $3.50 in a report released on Monday,Benzinga reports. The brokerage presently has a “sell” rating on the transportation company’s stock. UBS Group’s target price suggests a potential downside of 17.84% from the company’s previous close.

A number of other analysts have also issued reports on JBLU. TD Cowen raised shares of JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Morgan Stanley decreased their price objective on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, December 8th. Evercore upped their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock an “in-line” rating in a research note on Thursday, January 29th. The Goldman Sachs Group lifted their price target on shares of JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a research note on Tuesday, January 13th. Finally, Citigroup raised JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 price objective on the stock in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, JetBlue Airways presently has an average rating of “Reduce” and an average price target of $4.98.

JetBlue Airways Trading Up 3.4%

Shares of NASDAQ JBLU traded up $0.14 during midday trading on Monday, hitting $4.26. The company’s stock had a trading volume of 19,883,251 shares, compared to its average volume of 20,535,152. JetBlue Airways has a 12-month low of $3.34 and a 12-month high of $6.50. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 3.65. The firm has a market cap of $1.58 billion, a P/E ratio of -2.55 and a beta of 1.71. The business’s 50 day moving average is $5.30 and its two-hundred day moving average is $4.92.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.22 billion. JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. JetBlue Airways’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) EPS. As a group, equities research analysts expect that JetBlue Airways will post -0.69 EPS for the current year.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its stake in shares of JetBlue Airways by 639.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 5,049 shares in the last quarter. Kestra Advisory Services LLC bought a new position in JetBlue Airways in the fourth quarter worth approximately $30,000. Leonteq Securities AG purchased a new stake in JetBlue Airways during the fourth quarter worth $32,000. Bogart Wealth LLC lifted its holdings in JetBlue Airways by 12,727.3% during the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after buying an additional 7,000 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in JetBlue Airways during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

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.