JetBlue Airways (NASDAQ:JBLU) Stock Gets Price Target Boost from UBS Group

JetBlue Airways (NASDAQ:JBLU) had its price target boosted by research analysts at UBS Group from $3.50 to $4.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. UBS Group‘s price objective points to a potential downside of 0.12% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Citigroup raised JetBlue Airways from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $5.30 to $4.50 in a research report on Tuesday, October 6th. BMO Capital Markets decreased their price objective on shares of JetBlue Airways from $6.75 to $5.25 and set a “market perform” rating for the company in a report on Monday, September 28th. Seaport Research Partners downgraded shares of JetBlue Airways from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Barclays dropped their target price on shares of JetBlue Airways from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, September 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday, October 15th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $4.98.

JetBlue Airways Stock Up 1.6%

Shares of JBLU stock traded up $0.07 during mid-day trading on Tuesday, reaching $4.00. 22,769,908 shares of the company’s stock traded hands, compared to its average volume of 26,631,570. The company’s 50-day moving average price is $3.81 and its 200-day moving average price is $4.87. The company has a market cap of $1.51 billion, a P/E ratio of -1.48 and a beta of 1.90. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 5.92. JetBlue Airways has a 12 month low of $2.16 and a 12 month high of $6.62.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Monday, October 26th. The transportation company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.05). JetBlue Airways had a negative return on equity of 56.96% and a negative net margin of 10.01%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the business earned ($0.40) earnings per share. The firm’s revenue was up 21.1% compared to the same quarter last year. On average, equities analysts expect that JetBlue Airways will post -2.68 earnings per share for the current fiscal year.

Insider Activity at JetBlue Airways

In other JetBlue Airways news, Director Nik Mittal purchased 100,000 shares of JetBlue Airways stock in a transaction dated Tuesday, November 3rd. The stock was purchased at an average price of $3.24 per share, with a total value of $324,000.00. Following the transaction, the director directly owned 238,537 shares of the company’s stock, valued at $772,859.88. This trade represents a 72.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 6,000 shares of company stock worth $23,920. 2.41% of the stock is owned by corporate insiders.

Institutional Trading of JetBlue Airways

Several large investors have recently added to or reduced their stakes in JBLU. Cim Investment Management Inc. boosted its holdings in JetBlue Airways by 7.3% during the 2nd quarter. Cim Investment Management Inc. now owns 47,282 shares of the transportation company’s stock valued at $271,000 after acquiring an additional 3,203 shares during the period. Amundi grew its position in JetBlue Airways by 8.9% in the 1st quarter. Amundi now owns 39,447 shares of the transportation company’s stock valued at $174,000 after acquiring an additional 3,238 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in JetBlue Airways by 157.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock worth $25,000 after purchasing an additional 3,373 shares during the period. Kestra Advisory Services LLC increased its stake in JetBlue Airways by 35.4% in the third quarter. Kestra Advisory Services LLC now owns 13,682 shares of the transportation company’s stock worth $58,000 after purchasing an additional 3,577 shares during the period. Finally, Global Retirement Partners LLC increased its stake in JetBlue Airways by 42.9% in the third quarter. Global Retirement Partners LLC now owns 12,359 shares of the transportation company’s stock worth $52,000 after purchasing an additional 3,712 shares during the period. 83.71% of the stock is currently owned by institutional investors.

About JetBlue Airways

JetBlue Airways Corporation is a U.S. passenger airline headquartered in Long Island City, New York. Founded in 1998, the company began flying in 2000 and operates scheduled service across the United States and to destinations in the Caribbean, Latin America, Canada and Europe. The airline offers economy and premium travel options, including its Mint business-class service on select routes and additional-legroom seating. JetBlue also provides loyalty rewards through its TrueBlue program and sells vacation packages combining flights with other travel services.