The Goldman Sachs Group Cuts JetBlue Airways (NASDAQ:JBLU) Price Target to $3.50

JetBlue Airways (NASDAQ:JBLU) had its price objective decreased by The Goldman Sachs Group from $4.00 to $3.50 in a research note issued to investors on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the transportation company’s stock.

JBLU has been the topic of several other reports. TD Cowen raised JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. UBS Group dropped their target price on shares of JetBlue Airways from $4.00 to $3.50 and set a “sell” rating for the company in a research report on Monday, March 16th. Evercore lifted their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company an “in-line” rating in a research report on Thursday, January 29th. Citigroup decreased their price objective on shares of JetBlue Airways from $6.00 to $4.40 and set a “neutral” rating for the company in a research note on Friday, March 20th. Finally, Morgan Stanley dropped 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 research report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $4.81.

JetBlue Airways Price Performance

Shares of JBLU opened at $4.52 on Wednesday. JetBlue Airways has a fifty-two week low of $3.34 and a fifty-two week high of $6.50. The company’s fifty day moving average is $5.06 and its two-hundred day moving average is $4.83. The firm has a market cap of $1.67 billion, a PE ratio of -2.71 and a beta of 1.75. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 3.65.

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

Hedge Funds Weigh In On JetBlue Airways

A number of large investors have recently bought and sold shares of JBLU. Stifel Financial Corp increased its position in JetBlue Airways by 0.6% in the 4th quarter. Stifel Financial Corp now owns 326,990 shares of the transportation company’s stock valued at $1,488,000 after acquiring an additional 1,928 shares during the period. Vident Advisory LLC increased its holdings in shares of JetBlue Airways by 20.2% during the fourth quarter. Vident Advisory LLC now owns 13,232 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 2,226 shares during the period. CWM LLC lifted its holdings in JetBlue Airways by 3.2% in the third quarter. CWM LLC now owns 78,200 shares of the transportation company’s stock worth $385,000 after purchasing an additional 2,394 shares during the period. Essex Financial Services Inc. lifted its holdings in JetBlue Airways by 12.4% in the fourth quarter. Essex Financial Services Inc. now owns 23,504 shares of the transportation company’s stock worth $107,000 after purchasing an additional 2,599 shares during the period. Finally, Cetera Investment Advisers grew its position in JetBlue Airways by 10.7% in the 2nd quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock valued at $130,000 after buying an additional 2,954 shares in the last quarter. 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.