JetBlue Airways (NASDAQ:JBLU) Stock Gets Price Target Trim from Susquehanna

JetBlue Airways (NASDAQ:JBLU) had its target price reduced by Susquehanna from $6.00 to $4.00 in a report published on Wednesday morning,Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

JBLU has been the topic of several other research reports. Raymond James Financial restated an “underperform” rating on shares of JetBlue Airways in a research report on Monday, July 6th. Wall Street Zen lowered shares of JetBlue Airways from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Seaport Research Partners cut JetBlue Airways from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. Bank of America raised their price target on JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a research report on Wednesday, July 1st. Finally, BMO Capital Markets dropped their price target on JetBlue Airways from $6.75 to $5.25 and set a “market perform” rating for the company in a research note on Monday, September 28th. Eight analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $5.02.

JetBlue Airways Stock Down 2.0%

Shares of NASDAQ JBLU opened at $3.84 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 5.04. The business has a 50-day moving average of $4.79 and a 200-day moving average of $5.04. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -1.61 and a beta of 1.77. JetBlue Airways has a 12 month low of $3.79 and a 12 month high of $6.62.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.03. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the firm posted ($0.21) earnings per share. JetBlue Airways’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts expect that JetBlue Airways will post -2.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other JetBlue Airways news, CFO Ursula Hurley sold 77,253 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the completion of the sale, the chief financial officer owned 211,099 shares of the company’s stock, valued at $1,215,930.24. This represents a 26.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 83,253 shares of company stock worth $474,477. Corporate insiders own 2.41% of the company’s stock.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds and other institutional investors have recently modified their holdings of the company. Cim Investment Management Inc. grew its position in shares of JetBlue Airways by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 47,282 shares of the transportation company’s stock worth $271,000 after buying an additional 3,203 shares during the last quarter. Amundi increased its stake in shares of JetBlue Airways by 8.9% during the first quarter. Amundi now owns 39,447 shares of the transportation company’s stock valued at $174,000 after buying an additional 3,238 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of JetBlue Airways by 157.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 3,373 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in shares of JetBlue Airways by 62.1% during the first quarter. Kestra Advisory Services LLC now owns 10,809 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 4,142 shares in the last quarter. Finally, Trust Co. of Vermont purchased a new stake in JetBlue Airways in the second quarter worth $26,000. 83.71% of the stock is owned by institutional investors.

About JetBlue Airways

JetBlue Airways Corp. (NASDAQ:JBLU) is a passenger airline that provides scheduled air transportation in the United States, the Caribbean, Latin America and select destinations in Canada and Europe. The company serves leisure and business travelers through a network centered on major U.S. airports, including New York, Boston, Fort Lauderdale and Orlando.

JetBlue offers multiple travel products, including its core economy service and premium Mint cabins on select routes. Its onboard offerings have included complimentary snacks and beverages, seatback entertainment, Wi-Fi and additional-legroom seating options marketed as Even More Space.