JetBlue Airways (NASDAQ:JBLU) Shares Gap Down Following Analyst Downgrade

JetBlue Airways Co. (NASDAQ:JBLU) gapped down before the market opened on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $7.00 to $6.00. The stock had previously closed at $7.51, but opened at $6.11. JPMorgan Chase & Co. currently has a neutral rating on the stock. JetBlue Airways shares last traded at $6.44, with a volume of 11,918,703 shares.

A number of other analysts also recently issued reports on the stock. Susquehanna raised their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, April 9th. Barclays initiated coverage on shares of JetBlue Airways in a report on Wednesday, March 27th. They set an “underweight” rating and a $6.00 price target for the company. TD Cowen lowered their price objective on shares of JetBlue Airways from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of JetBlue Airways from a “hold” rating to a “buy” rating and increased their price objective for the stock from $4.00 to $9.00 in a research report on Tuesday, February 20th. Finally, Bank of America cut shares of JetBlue Airways from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $6.00 to $3.00 in a research report on Tuesday, January 9th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.78.

Hedge Funds Weigh In On JetBlue Airways

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JBLU. CWM LLC boosted its position in JetBlue Airways by 458.5% in the 3rd quarter. CWM LLC now owns 26,836 shares of the transportation company’s stock valued at $123,000 after buying an additional 22,031 shares during the period. SG Americas Securities LLC boosted its position in JetBlue Airways by 57.7% in the 3rd quarter. SG Americas Securities LLC now owns 351,648 shares of the transportation company’s stock valued at $1,618,000 after buying an additional 128,716 shares during the period. State of Alaska Department of Revenue lifted its position in shares of JetBlue Airways by 410.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 207,484 shares of the transportation company’s stock worth $954,000 after purchasing an additional 166,847 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of JetBlue Airways by 19.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 48,400 shares of the transportation company’s stock worth $223,000 after purchasing an additional 7,800 shares during the last quarter. Finally, Maryland State Retirement & Pension System purchased a new stake in shares of JetBlue Airways during the 3rd quarter worth $565,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Trading Down 3.1 %

The firm has a market capitalization of $2.01 billion, a PE ratio of -6.29 and a beta of 1.86. The company’s 50-day moving average price is $6.91 and its 200-day moving average price is $5.65. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.57 and a current ratio of 0.60.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, April 23rd. The transportation company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.10. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.34) EPS. On average, sell-side analysts expect that JetBlue Airways Co. will post -0.72 earnings per share for the current year.

JetBlue Airways Company Profile

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.