JetBlue Airways Co. (NASDAQ:JBLU) Given Average Rating of “Reduce” by Brokerages

JetBlue Airways Co. (NASDAQ:JBLU) has been given an average recommendation of “Reduce” by the ten analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $5.98.

A number of equities research analysts have issued reports on the company. Susquehanna boosted their price target on JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research note on Friday, October 11th. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $3.00 to $6.00 in a research note on Monday, September 9th. TD Cowen boosted their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Citigroup boosted their price target on JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a research note on Tuesday.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in JBLU. Point72 Asset Management L.P. lifted its holdings in JetBlue Airways by 715.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock worth $9,930,000 after purchasing an additional 1,430,622 shares in the last quarter. American Century Companies Inc. lifted its holdings in JetBlue Airways by 16.4% in the 2nd quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock worth $48,970,000 after purchasing an additional 1,135,217 shares in the last quarter. Donald Smith & CO. Inc. lifted its holdings in JetBlue Airways by 6.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 13,256,094 shares of the transportation company’s stock worth $98,360,000 after purchasing an additional 805,404 shares in the last quarter. Quantbot Technologies LP lifted its holdings in JetBlue Airways by 1,932.3% in the 2nd quarter. Quantbot Technologies LP now owns 588,893 shares of the transportation company’s stock worth $3,586,000 after purchasing an additional 559,917 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in JetBlue Airways by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 17,878,115 shares of the transportation company’s stock worth $108,875,000 after purchasing an additional 521,767 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $7.37 on Friday. JetBlue Airways has a 1-year low of $3.42 and a 1-year high of $8.07. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50. The business has a fifty day moving average price of $5.92 and a 200-day moving average price of $5.92. The company has a market capitalization of $2.51 billion, a PE ratio of -2.98 and a beta of 1.92.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.26. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the company earned $0.45 EPS. JetBlue Airways’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, equities analysts expect that JetBlue Airways will post -0.91 EPS for the current fiscal year.

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.