Bank of America Lowers JetBlue Airways (NASDAQ:JBLU) Price Target to $4.25

JetBlue Airways (NASDAQ:JBLU) had its target price dropped by research analysts at Bank of America from $5.25 to $4.25 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “underperform” rating on the transportation company’s stock. Bank of America‘s price target would suggest a potential upside of 7.87% from the company’s previous close.

JBLU has been the topic of several other reports. Deutsche Bank Aktiengesellschaft cut shares of JetBlue Airways from a “buy” rating to a “hold” rating and cut their price target for the stock from $9.00 to $7.00 in a report on Tuesday, March 4th. Citigroup boosted their target price on JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $8.00 price target on shares of JetBlue Airways in a research report on Wednesday, December 11th. UBS Group dropped their price target on JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a report on Wednesday, January 29th. Finally, Seaport Res Ptn downgraded JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, JetBlue Airways currently has an average rating of “Hold” and an average price target of $6.12.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $3.94 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. The firm has a fifty day simple moving average of $6.07 and a two-hundred day simple moving average of $6.60. The firm has a market capitalization of $1.39 billion, a PE ratio of -1.68 and a beta of 1.80. JetBlue Airways has a 12 month low of $3.62 and a 12 month high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same period in the previous year, the business posted ($0.19) EPS. Analysts forecast that JetBlue Airways will post -0.69 EPS for the current fiscal year.

Insider Activity at JetBlue Airways

In other JetBlue Airways news, CFO Ursula L. Hurley sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total transaction of $112,500.00. Following the sale, the chief financial officer now owns 41,833 shares of the company’s stock, valued at $313,747.50. The trade was a 26.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nik Mittal purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $6.14 per share, with a total value of $614,000.00. Following the completion of the acquisition, the director now directly owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. This trade represents a 608.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc boosted its position in shares of JetBlue Airways by 6.4% in the fourth quarter. CIBC Asset Management Inc now owns 30,416 shares of the transportation company’s stock valued at $239,000 after acquiring an additional 1,823 shares during the period. Xponance Inc. boosted its holdings in JetBlue Airways by 10.2% in the 4th quarter. Xponance Inc. now owns 22,613 shares of the transportation company’s stock valued at $178,000 after purchasing an additional 2,095 shares during the period. Vident Advisory LLC boosted its holdings in JetBlue Airways by 10.9% in the 4th quarter. Vident Advisory LLC now owns 23,181 shares of the transportation company’s stock valued at $182,000 after purchasing an additional 2,284 shares during the period. Blue Trust Inc. grew its position in shares of JetBlue Airways by 130.8% during the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 2,538 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in shares of JetBlue Airways by 8.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 32,679 shares of the transportation company’s stock worth $257,000 after purchasing an additional 2,666 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.