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

Shares of JetBlue Airways Co. (NASDAQ:JBLU) have been given a consensus recommendation of “Reduce” by the ten brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $6.43.

A number of research analysts have weighed in on the stock. StockNews.com raised shares of JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. Barclays raised their price objective on shares of JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Thursday, November 14th. Citigroup upped their target price on shares of JetBlue Airways from $6.00 to $7.75 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Finally, UBS Group restated a “sell” rating and issued a $5.00 price target on shares of JetBlue Airways in a report on Tuesday, November 26th.

Institutional Investors Weigh In On JetBlue Airways

Several large investors have recently made changes to their positions in JBLU. Maverick Capital Ltd. raised its position in JetBlue Airways by 136.1% during the third quarter. Maverick Capital Ltd. now owns 245,657 shares of the transportation company’s stock worth $1,612,000 after acquiring an additional 141,605 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of JetBlue Airways by 56.7% during the 3rd quarter. Quantbot Technologies LP now owns 922,925 shares of the transportation company’s stock worth $6,054,000 after purchasing an additional 334,032 shares during the last quarter. Jade Capital Advisors LLC raised its holdings in shares of JetBlue Airways by 800.0% in the 3rd quarter. Jade Capital Advisors LLC now owns 450,000 shares of the transportation company’s stock valued at $2,952,000 after purchasing an additional 400,000 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of JetBlue Airways by 13.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock valued at $37,141,000 after purchasing an additional 663,865 shares during the period. Finally, Privium Fund Management UK Ltd bought a new position in JetBlue Airways during the third quarter worth about $794,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Price Performance

JBLU opened at $6.59 on Friday. The company has a fifty day simple moving average of $6.56 and a 200 day simple moving average of $5.94. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 2.98. The stock has a market cap of $2.29 billion, a P/E ratio of -2.62 and a beta of 1.92. JetBlue Airways has a 12 month low of $4.49 and a 12 month high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the company earned ($0.39) earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, research analysts expect that JetBlue Airways will post -0.92 EPS for the current 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.