JetBlue Airways (NASDAQ:JBLU) Price Target Lowered to $4.25 at Bank of America

JetBlue Airways (NASDAQ:JBLU) had its target price lowered by equities researchers at Bank of America from $5.25 to $4.25 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “underperform” rating on the transportation company’s stock. Bank of America‘s target price points to a potential downside of 15.67% from the company’s previous close.

A number of other research analysts have also recently weighed in on JBLU. UBS Group cut their price objective on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. Citigroup increased their price target on JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lowered JetBlue Airways from a “buy” rating to a “hold” rating and decreased their target price for the company from $9.00 to $7.00 in a research report on Tuesday, March 4th. Morgan Stanley reiterated an “equal weight” rating and issued a $8.00 target price on shares of JetBlue Airways in a research report on Wednesday, December 11th. Finally, Seaport Res Ptn cut shares of JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.12.

JetBlue Airways Stock Up 5.4 %

Shares of JetBlue Airways stock opened at $5.04 on Thursday. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -2.15 and a beta of 1.80. The firm’s 50-day moving average is $6.23 and its two-hundred day moving average is $6.63. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.10 and a quick ratio of 1.18. JetBlue Airways has a 1 year low of $4.44 and a 1 year high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same quarter in the previous year, the company posted ($0.19) earnings per share. As a group, research analysts expect that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Nik Mittal bought 100,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average cost of $6.14 per share, with a total value of $614,000.00. Following the purchase, the director now directly owns 116,443 shares of the company’s stock, valued at $714,960.02. The trade was a 608.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ursula L. Hurley sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total transaction of $112,500.00. Following the transaction, the chief financial officer now directly owns 41,833 shares in the company, valued at approximately $313,747.50. The trade was a 26.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On JetBlue Airways

A number of institutional investors have recently bought and sold shares of JBLU. Entropy Technologies LP acquired a new stake in shares of JetBlue Airways during the 4th quarter worth approximately $787,000. Intech Investment Management LLC grew its position in JetBlue Airways by 71.7% in the fourth quarter. Intech Investment Management LLC now owns 119,072 shares of the transportation company’s stock worth $936,000 after acquiring an additional 49,712 shares during the period. Raymond James Financial Inc. acquired a new stake in JetBlue Airways during the fourth quarter worth $1,796,000. Empowered Funds LLC raised its position in JetBlue Airways by 8.3% in the fourth quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company’s stock valued at $10,977,000 after purchasing an additional 107,293 shares during the period. Finally, Wealthfront Advisers LLC acquired a new position in shares of JetBlue Airways in the 4th quarter valued at $421,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

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.