JetBlue Airways’ (JBLU) “Underperform” Rating Reiterated at Bank of America

Bank of America reiterated their underperform rating on shares of JetBlue Airways (NASDAQ:JBLU) in a research note published on Friday morning, Marketbeat Ratings reports. The brokerage currently has a $6.50 price objective on the transportation company’s stock.

Several other brokerages also recently weighed in on JBLU. StockNews.com raised JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $5.50 price objective on shares of JetBlue Airways in a report on Friday, November 15th. Evercore ISI boosted their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. UBS Group reaffirmed a “sell” rating and issued a $5.00 price target on shares of JetBlue Airways in a research note on Tuesday, November 26th. Finally, Citigroup boosted their price objective on JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.69.

JetBlue Airways Stock Up 0.4 %

JetBlue Airways stock opened at $7.64 on Friday. The business’s 50-day moving average price is $7.04 and its 200 day moving average price is $6.34. 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 firm has a market cap of $2.65 billion, a price-to-earnings ratio of -3.03 and a beta of 1.84. JetBlue Airways has a 52 week low of $4.49 and a 52 week high of $8.28.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the company earned ($0.39) EPS. The business’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts anticipate that JetBlue Airways will post -0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of JBLU. Bogart Wealth LLC increased its position in JetBlue Airways by 1,951.2% during the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after purchasing an additional 4,000 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of JetBlue Airways during the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of JetBlue Airways during the 2nd quarter valued at approximately $34,000. Point72 DIFC Ltd acquired a new position in JetBlue Airways in the second quarter valued at approximately $48,000. Finally, GAMMA Investing LLC grew its position in JetBlue Airways by 85.8% in the fourth quarter. GAMMA Investing LLC now owns 8,353 shares of the transportation company’s stock worth $66,000 after acquiring an additional 3,857 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.