The Goldman Sachs Group Reiterates Sell Rating for JetBlue Airways (NASDAQ:JBLU)

JetBlue Airways (NASDAQ:JBLU)‘s stock had its “sell” rating reaffirmed by equities researchers at The Goldman Sachs Group in a research note issued to investors on Friday,Benzinga reports. They presently have a $5.50 target price on the transportation company’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 22.64% from the stock’s current price.

Several other equities analysts have also commented on the stock. Barclays increased their price objective on shares of JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a research report on Thursday. Evercore ISI increased their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. StockNews.com raised JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. Susquehanna upped their price objective on JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, TD Cowen lifted their target price on JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.43.

JetBlue Airways Price Performance

JBLU stock opened at $7.11 on Friday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. The company has a market capitalization of $2.47 billion, a PE ratio of -2.82 and a beta of 1.92. The company’s fifty day moving average price is $6.40 and its 200-day moving average price is $5.89. JetBlue Airways has a one year low of $4.09 and a one year high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.39) EPS. On average, equities analysts anticipate that JetBlue Airways will post -0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of JetBlue Airways in the first quarter valued at about $25,000. Trust Co. of Vermont purchased a new position in JetBlue Airways during the second quarter worth approximately $27,000. Bogart Wealth LLC boosted its stake in JetBlue Airways by 1,951.2% during the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after buying an additional 4,000 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of JetBlue Airways in the third quarter valued at about $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in JetBlue Airways during the second quarter worth about $34,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.