JetBlue Airways Corporation (NASDAQ:JBLU) Stock Has Consensus Price Target of $4.94

Key Points

• Analysts are cautious: JetBlue has a consensus “Reduce” rating, with 4 sell, 9 hold and 1 buy recommendation. The average 12-month price target is $4.94.
• Recent results missed expectations: JetBlue reported a quarterly loss of $0.60 per share versus the $0.55 loss analysts expected, while revenue of $2.81 billion also fell short of estimates. Revenue nevertheless grew 21.1% year over year.
• An insider bought shares: Director Nik Mittal purchased 100,000 shares at an average price of $3.24, increasing his ownership by 72.18%.

Shares of JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report) have earned a consensus rating of "Reduce" from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $4.94.

Several brokerages have weighed in on JBLU. Weiss Ratings reiterated a "sell (d-)" rating on shares of JetBlue Airways in a research note on Thursday, October 15th. Barclays decreased their price target on JetBlue Airways from $7.00 to $5.00 and set an "equal weight" rating for the company in a research note on Friday, September 11th. TD Cowen cut their price objective on JetBlue Airways from $6.00 to $5.00 and set a "hold" rating for the company in a report on Monday, August 24th. BMO Capital Markets decreased their price objective on shares of JetBlue Airways from $6.75 to $5.25 and set a "market perform" rating for the company in a report on Monday, September 28th. Finally, Susquehanna decreased their price objective on shares of JetBlue Airways from $4.00 to $3.00 and set a "neutral" rating on the stock in a research note on Thursday, October 29th.

Insiders Place Their Bets

In other JetBlue Airways news, Director Nik Mittal purchased 100,000 shares of the firm's stock in a transaction on Tuesday, November 3rd. The shares were acquired at an average cost of $3.24 per share, with a total value of $324,000.00. Following the completion of the acquisition, the director directly owned 238,537 shares in the company, valued at $772,859.88. The trade was a 72.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 6,000 shares of company stock valued at $23,920. 2.41% of the stock is currently owned by insiders.

Institutional Trading of JetBlue Airways

Hedge funds have recently made changes to their positions in the business. U S Global Investors Inc. raised its holdings in JetBlue Airways by 8.4% in the 3rd quarter. U S Global Investors Inc. now owns 6,501,298 shares of the transportation company's stock valued at $27,500,000 after acquiring an additional 505,067 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of JetBlue Airways in the 2nd quarter valued at about $20,022,000. Primecap Management Co. CA acquired a new stake in JetBlue Airways in the 2nd quarter worth about $13,549,000. Bank of New York Mellon Corp acquired a new stake in shares of JetBlue Airways in the 2nd quarter worth about $11,336,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in JetBlue Airways in the second quarter worth approximately $10,748,000. Institutional investors and hedge funds own 83.71% of the company's stock.

JetBlue Airways Stock Up 5.2%

Shares of JetBlue Airways stock opened at $3.67 on Friday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -1.37 and a beta of 1.90. The company has a fifty day moving average price of $3.83 and a 200 day moving average price of $4.88. JetBlue Airways has a twelve month low of $2.16 and a twelve month high of $6.62. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 5.92.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last posted its earnings results on Monday, October 26th. The transportation company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.05). JetBlue Airways had a negative net margin of 10.01% and a negative return on equity of 56.96%. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the company posted ($0.40) EPS. JetBlue Airways's revenue for the quarter was up 21.1% compared to the same quarter last year. Equities research analysts forecast that JetBlue Airways will post -2.68 earnings per share for the current fiscal year.

JetBlue Airways Company Profile

JetBlue Airways Corporation is a U.S.-based passenger airline that provides scheduled air transportation to destinations across the United States, the Caribbean, Latin America and select locations in Europe. The company operates primarily from focus cities including New York, Boston, Fort Lauderdale, Orlando and Los Angeles, with a network designed to connect major metropolitan areas and leisure destinations.

JetBlue offers multiple classes and service options, including standard economy seating, extra-legroom EvenMore seats and its premium Mint service on select routes.

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