JetBlue Airways (NASDAQ:JBLU) Price Target Cut to $6.00 by Analysts at TD Cowen

JetBlue Airways (NASDAQ:JBLU) had its price objective decreased by TD Cowen from $7.00 to $6.00 in a report issued on Tuesday morning, MarketBeat Ratings reports. TD Cowen currently has a hold rating on the transportation company’s stock.

JBLU has been the subject of several other reports. UBS Group initiated coverage on shares of JetBlue Airways in a research report on Wednesday, March 20th. They set a sell rating and a $5.00 price target for the company. Susquehanna raised their price target on JetBlue Airways from $5.00 to $6.00 and gave the stock a neutral rating in a research report on Tuesday, April 9th. Evercore ISI lifted their price target on JetBlue Airways from $5.00 to $8.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Bank of America lowered JetBlue Airways from a neutral rating to an underperform rating and dropped their price objective for the company from $6.00 to $3.00 in a research note on Tuesday, January 9th. Finally, Barclays started coverage on shares of JetBlue Airways in a research note on Wednesday, March 27th. They issued an underweight rating and a $6.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $5.88.

JetBlue Airways Price Performance

JBLU opened at $6.10 on Tuesday. The stock has a market capitalization of $2.07 billion, a P/E ratio of -6.49 and a beta of 1.86. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.32. JetBlue Airways has a 12-month low of $3.42 and a 12-month high of $9.45. The stock has a 50-day moving average price of $6.94 and a 200-day moving average price of $5.65.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, January 30th. The transportation company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.10. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the firm posted $0.22 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. Equities analysts predict that JetBlue Airways will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of JetBlue Airways during the 1st quarter valued at $25,000. Performa Ltd US LLC increased its position in JetBlue Airways by 96.6% during the 3rd quarter. Performa Ltd US LLC now owns 5,700 shares of the transportation company’s stock valued at $26,000 after buying an additional 2,800 shares in the last quarter. GAMMA Investing LLC raised its stake in JetBlue Airways by 169.8% during the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock valued at $28,000 after buying an additional 2,377 shares during the last quarter. Signaturefd LLC boosted its holdings in JetBlue Airways by 72.8% in the third quarter. Signaturefd LLC now owns 6,531 shares of the transportation company’s stock worth $30,000 after acquiring an additional 2,751 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of JetBlue Airways by 41.3% in the fourth quarter. Versant Capital Management Inc now owns 6,371 shares of the transportation company’s stock worth $35,000 after acquiring an additional 1,861 shares during the last quarter. 83.71% of the stock is currently owned by 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.