JetBlue Airways Corporation (NASDAQ:JBLU) Receives Consensus Rating of "Reduce" from Analysts

Key Points

• JetBlue Airways currently carries a consensus analyst rating of "Reduce" from 11 covering firms, with four sell ratings, six hold ratings, and one strong buy. The average 1-year price target is about $4.93.
• Recent analyst moves have been mixed, including upgraded and lowered price targets, but several firms remain cautious. Goldman Sachs reiterated a sell rating with a $3.50 target, while Seaport Research Partners upgraded the stock to buy with an $8.00 target.
• JetBlue reported a wider-than-expected quarterly loss of ($0.87) per share, missing estimates, though revenue matched forecasts at $2.24 billion and rose 4.7% year over year. The company also saw insider selling by two directors and continues to have high institutional ownership at 83.71%.

Shares of JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report) have received an average recommendation of "Reduce" from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $4.9333.

JBLU has been the subject of several research reports. BMO Capital Markets initiated coverage on shares of JetBlue Airways in a research report on Tuesday, March 24th. They set a "market perform" rating and a $4.50 price objective for the company. Susquehanna raised their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Citigroup cut their price objective on shares of JetBlue Airways from $6.00 to $4.40 and set a "neutral" rating for the company in a research report on Friday, March 20th. Seaport Research Partners upgraded shares of JetBlue Airways from a "neutral" rating to a "buy" rating and set a $8.00 price objective for the company in a research report on Thursday, April 16th. Finally, The Goldman Sachs Group restated a "sell" rating and set a $3.50 price objective on shares of JetBlue Airways in a research report on Monday, June 1st.

Insider Activity at JetBlue Airways

In other JetBlue Airways news, Director Thomas Winkelmann sold 35,473 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $4.70, for a total transaction of $166,723.10. Following the completion of the sale, the director directly owned 13,379 shares in the company, valued at $62,881.30. This trade represents a 72.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Vivek Sharma sold 32,000 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total transaction of $173,120.00. Following the sale, the director owned 35,479 shares of the company's stock, valued at $191,941.39. This trade represents a 47.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.41% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Stifel Financial Corp increased its holdings in shares of JetBlue Airways by 0.6% during the fourth quarter. Stifel Financial Corp now owns 326,990 shares of the transportation company's stock worth $1,488,000 after purchasing an additional 1,928 shares during the period. Vident Advisory LLC increased its holdings in shares of JetBlue Airways by 20.2% during the fourth quarter. Vident Advisory LLC now owns 13,232 shares of the transportation company's stock worth $60,000 after purchasing an additional 2,226 shares during the period. Essex Financial Services Inc. increased its holdings in shares of JetBlue Airways by 12.4% during the fourth quarter. Essex Financial Services Inc. now owns 23,504 shares of the transportation company's stock worth $107,000 after purchasing an additional 2,599 shares during the period. Cetera Investment Advisers increased its holdings in shares of JetBlue Airways by 10.7% during the second quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company's stock worth $130,000 after purchasing an additional 2,954 shares during the period. Finally, Amundi increased its holdings in shares of JetBlue Airways by 8.9% during the first quarter. Amundi now owns 39,447 shares of the transportation company's stock worth $174,000 after purchasing an additional 3,238 shares during the period. 83.71% of the stock is owned by institutional investors.

JetBlue Airways Trading Up 3.4%

Shares of NASDAQ:JBLU opened at $4.92 on Wednesday. JetBlue Airways has a 52-week low of $3.84 and a 52-week high of $6.50. The company has a market capitalization of $1.83 billion, a P/E ratio of -2.54 and a beta of 1.73. The company has a 50-day simple moving average of $4.96 and a 200 day simple moving average of $4.97. The company has a debt-to-equity ratio of 4.25, a quick ratio of 0.64 and a current ratio of 0.70.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.15). JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the business posted ($0.59) earnings per share. The company's revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts forecast that JetBlue Airways will post -2.78 earnings per share for the current year.

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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