JetBlue Airways (NASDAQ:JBLU) Given New $5.00 Price Target at Barclays

Key Points

• Barclays lowered JetBlue Airways’ price target from $7.00 to $5.00 while maintaining an “equal weight” rating, implying about 11.5% upside from the $4.49 share price.
• Analyst sentiment remains cautious: JetBlue has a consensus “Reduce” rating and an average price target of $5.41, based on seven Hold and six Sell ratings.
• JetBlue reported a quarterly loss of $0.66 per share, though it beat estimates and revenue rose 14.5% year over year to $2.70 billion. The company continues to face weak profitability, including a negative 9.32% net margin and 5.04 debt-to-equity ratio.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) had its price objective reduced by research analysts at Barclays from $7.00 to $5.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "equal weight" rating on the transportation company's stock. Barclays's price target would suggest a potential upside of 11.48% from the company's current price.

JBLU has been the topic of a number of other research reports. BMO Capital Markets boosted their price target on shares of JetBlue Airways from $6.00 to $6.75 and gave the stock a "market perform" rating in a research report on Wednesday, July 29th. Raymond James Financial reissued an "underperform" rating on shares of JetBlue Airways in a research note on Monday, July 6th. UBS Group dropped their target price on shares of JetBlue Airways from $5.00 to $4.00 and set a "sell" rating on the stock in a report on Thursday. Bank of America upped their price target on shares of JetBlue Airways from $3.50 to $4.00 and gave the company an "underperform" rating in a research report on Wednesday, July 1st. Finally, TD Cowen decreased their price target on JetBlue Airways from $6.00 to $5.00 and set a "hold" rating for the company in a report on Monday, August 24th. Seven investment analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, JetBlue Airways presently has a consensus rating of "Reduce" and an average price target of $5.41.

JetBlue Airways Price Performance

Shares of JBLU opened at $4.49 on Friday. The business has a 50-day moving average of $5.37 and a 200-day moving average of $5.12. The company has a debt-to-equity ratio of 5.04, a current ratio of 0.70 and a quick ratio of 0.63. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -1.87 and a beta of 1.70. JetBlue Airways has a 1 year low of $3.87 and a 1 year high of $6.62.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its earnings results on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.03. The business had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $2.69 billion. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The firm's revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.21) earnings per share. As a group, equities research analysts anticipate that JetBlue Airways will post -2.33 earnings per share for the current year.

Insider Activity

In other news, CFO Ursula Hurley sold 77,253 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the completion of the sale, the chief financial officer owned 211,099 shares of the company's stock, valued at $1,215,930.24. This trade represents a 26.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 81,253 shares of company stock worth $465,897. 2.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in JetBlue Airways by 131.2% in the first quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company's stock worth $436,000 after purchasing an additional 51,377 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of JetBlue Airways by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company's stock worth $896,000 after purchasing an additional 8,053 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of JetBlue Airways by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company's stock valued at $23,085,000 after buying an additional 274,892 shares in the last quarter. United Services Automobile Association bought a new position in JetBlue Airways in the 1st quarter valued at about $106,000. Finally, Cetera Investment Advisers lifted its holdings in shares of JetBlue Airways by 10.7% in the second quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company's stock valued at $130,000 after purchasing an additional 2,954 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company's stock.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline's core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.

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