Analysts Set JetBlue Airways Corporation (NASDAQ:JBLU) Target Price at $4.88

JetBlue Airways Corporation (NASDAQ:JBLU) has been given an average rating of “Reduce” by the eleven brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $4.8778.

JBLU has been the subject of a number of recent analyst reports. Citigroup decreased their price objective on JetBlue Airways from $6.00 to $4.40 and set a “neutral” rating for the company in a report on Friday, March 20th. Evercore increased their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock an “in-line” rating in a report on Thursday, January 29th. Susquehanna increased their price objective on JetBlue Airways from $4.00 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. The Goldman Sachs Group decreased their price objective on JetBlue Airways from $4.00 to $3.50 and set a “sell” rating for the company in a report on Wednesday, April 1st. Finally, Seaport Research Partners raised JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Thursday, April 16th.

JetBlue Airways Stock Up 8.0%

Shares of JetBlue Airways stock opened at $4.73 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 4.25. The business’s 50 day simple moving average is $4.74 and its 200-day simple moving average is $4.88. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -2.44 and a beta of 1.69. JetBlue Airways has a twelve month low of $3.84 and a twelve month high of $6.50.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.59) earnings per share. Equities research analysts forecast that JetBlue Airways will post -2.83 earnings per share for the current year.

Insider Transactions at JetBlue Airways

In related news, Director Thomas Winkelmann sold 35,473 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $4.70, for a total value of $166,723.10. Following the completion of the transaction, the director directly owned 13,379 shares of the company’s stock, valued at $62,881.30. This represents a 72.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On JetBlue Airways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JBLU. AQR Capital Management LLC grew its holdings in JetBlue Airways by 131.2% in the 1st quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company’s stock worth $436,000 after buying an additional 51,377 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in JetBlue Airways by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company’s stock valued at $896,000 after purchasing an additional 8,053 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in JetBlue Airways by 6.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company’s stock valued at $23,085,000 after purchasing an additional 274,892 shares in the last quarter. United Services Automobile Association bought a new position in JetBlue Airways during the 1st quarter valued at $106,000. Finally, Cetera Investment Advisers boosted its stake in JetBlue Airways by 10.7% during the 2nd quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 2,954 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

JetBlue Airways Company Profile

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.