JetBlue Airways (NASDAQ:JBLU) Stock Price Target Lowered at BMO Capital Markets

Key Points

• BMO Capital Markets lowered JetBlue’s price target from $6.75 to $5.25 while maintaining a “market perform” rating, reflecting approximately 23% potential upside from the $4.25 share price.
• Analyst sentiment remains cautious: JetBlue has a consensus “Reduce” rating, with seven Hold ratings and six Sell ratings, and an average price target of $5.28.
• JetBlue reported a quarterly loss of $0.66 per share, though it beat estimates and posted $2.70 billion in revenue, up 14.5% year over year; the company also faces weak profitability and high leverage, with a debt-to-equity ratio of 5.04.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) had its price objective lowered by research analysts at BMO Capital Markets from $6.75 to $5.25 in a research report issued on Monday, Benzinga reports. The firm presently has a "market perform" rating on the transportation company's stock. BMO Capital Markets' price target suggests a potential upside of 23.38% from the stock's current price.

Several other equities analysts also recently weighed in on the company. Raymond James Financial restated an "underperform" rating on shares of JetBlue Airways in a report on Monday, July 6th. TD Cowen dropped their price target on shares of JetBlue Airways from $6.00 to $5.00 and set a "hold" rating on the stock in a research note on Monday, August 24th. Barclays cut their price objective on shares of JetBlue Airways from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Friday, September 11th. The Goldman Sachs Group raised their price objective on shares of JetBlue Airways from $3.50 to $4.50 and gave the company a "sell" rating in a research note on Thursday, July 2nd. Finally, Seaport Research Partners cut shares of JetBlue Airways from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. Seven analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $5.28.

JetBlue Airways Stock Down 3.3%

Shares of NASDAQ JBLU traded down $0.14 on Monday, reaching $4.25. 8,167,060 shares of the company's stock traded hands, compared to its average volume of 25,876,586. The business's 50 day simple moving average is $5.08 and its two-hundred day simple moving average is $5.06. JetBlue Airways has a 12 month low of $3.87 and a 12 month high of $6.62. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -1.78 and a beta of 1.70. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.03. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the business posted ($0.21) EPS. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts forecast that JetBlue Airways will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling at JetBlue Airways

In other news, CFO Ursula Hurley sold 77,253 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $5.76, for a total transaction of $444,977.28. Following the transaction, the chief financial officer directly owned 211,099 shares of the company's stock, valued at $1,215,930.24. This represents a 26.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 81,253 shares of company stock valued at $465,897 in the last three months. 2.41% of the stock is owned by insiders.

Institutional Investors Weigh In On JetBlue Airways

Several large investors have recently bought and sold shares of JBLU. The Manufacturers Life Insurance Company lifted its stake in JetBlue Airways by 15.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 157,664 shares of the transportation company's stock valued at $903,000 after acquiring an additional 21,131 shares during the period. WINTON GROUP Ltd grew its stake in shares of JetBlue Airways by 95.6% in the second quarter. WINTON GROUP Ltd now owns 553,212 shares of the transportation company's stock worth $3,170,000 after acquiring an additional 270,358 shares during the period. Engineers Gate Manager LP grew its stake in shares of JetBlue Airways by 1,110.5% in the second quarter. Engineers Gate Manager LP now owns 173,100 shares of the transportation company's stock worth $992,000 after acquiring an additional 158,800 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of JetBlue Airways in the second quarter worth approximately $169,000. Finally, NewEdge Advisors LLC raised its holdings in shares of JetBlue Airways by 3,003.5% during the second quarter. NewEdge Advisors LLC now owns 33,456 shares of the transportation company's stock valued at $192,000 after purchasing an additional 32,378 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

About JetBlue Airways

JetBlue Airways Corporation NASDAQ: JBLU is a passenger airline that provides scheduled air transportation in the United States, the Caribbean, Latin America, Canada and select destinations in Europe. The company serves leisure and business travelers through a network connecting major cities, focus cities and vacation destinations.

JetBlue offers several travel products and services, including standard economy seating, premium Mint service on select routes, and EvenMore seating with additional legroom and other benefits.

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