JetBlue Airways’ (JBLU) “Underperform” Rating Reiterated at Raymond James Financial

JetBlue Airways (NASDAQ:JBLU)‘s stock had its “underperform” rating restated by analysts at Raymond James Financial in a report issued on Monday,Benzinga reports.

Several other analysts have also recently commented on JBLU. UBS Group increased their target price on JetBlue Airways from $4.00 to $4.50 and gave the stock a “sell” rating in a report on Tuesday, June 23rd. Citigroup upped their price target on shares of JetBlue Airways from $4.40 to $6.60 and gave the stock a “neutral” rating in a research report on Friday, June 26th. TD Cowen raised shares of JetBlue Airways from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 10th. Susquehanna raised their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, BMO Capital Markets assumed coverage on shares of JetBlue Airways in a research note on Tuesday, March 24th. They set a “market perform” rating and a $4.50 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $5.21.

JetBlue Airways Stock Performance

NASDAQ JBLU opened at $6.02 on Monday. JetBlue Airways has a 1-year low of $3.87 and a 1-year high of $6.50. The company has a 50 day moving average of $5.16 and a 200-day moving average of $5.08. 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 firm has a market cap of $2.24 billion, a price-to-earnings ratio of -3.10 and a beta of 1.73.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company earned ($0.59) earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts forecast that JetBlue Airways will post -2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at JetBlue Airways

In other news, Director Thomas Winkelmann sold 35,473 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 13,379 shares in the company, valued at $62,881.30. This trade represents a 72.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vivek Sharma sold 32,000 shares of JetBlue Airways stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the sale, the director directly owned 35,479 shares of the company’s stock, valued at approximately $191,941.39. This trade represents a 47.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.41% of the stock is owned by company insiders.

Institutional Trading of JetBlue Airways

Institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its holdings in 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 purchasing an additional 3,373 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in JetBlue Airways by 639.1% in 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 acquired a new stake in JetBlue Airways in the fourth quarter worth $30,000. Leonteq Securities AG acquired a new stake in JetBlue Airways in the fourth quarter worth $32,000. Finally, Essential Partners LLC boosted its position in shares of JetBlue Airways by 1,048.5% during the first quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock worth $32,000 after purchasing an additional 6,658 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.