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

Key Points

• JetBlue has a consensus “Reduce” rating from 12 analysts: six recommend selling, five advise holding, and one gives a strong-buy rating. The average 12-month price target is $5.405.
• JetBlue reported a quarterly loss of $0.66 per share, slightly better than the expected $0.69 loss, while revenue reached $2.70 billion and increased 14.5% year over year. Analysts expect a full-year loss of $2.24 per share.
• Insiders sold shares worth approximately $629,597 over the past 90 days, while institutional investors and hedge funds own 83.71% of the company’s stock.

Shares of JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report) have been given an average rating of "Reduce" by the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.4050.

Several research analysts have recently commented on the company. UBS Group lifted their target price on JetBlue Airways from $4.00 to $4.50 and gave the stock a "sell" rating in a research report on Tuesday, June 23rd. The Goldman Sachs Group upped their price target on JetBlue Airways from $3.50 to $4.50 and gave the company a "sell" rating in a research report on Thursday, July 2nd. Bank of America raised their price objective on JetBlue Airways from $3.50 to $4.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 1st. Seaport Research Partners cut JetBlue Airways from a "buy" rating to a "neutral" rating in a research note on Monday, August 17th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of JetBlue Airways in a report on Friday, July 17th.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $4.89 on Monday. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 0.70. JetBlue Airways has a one year low of $3.87 and a one year high of $6.62. The company's 50-day simple moving average is $5.64 and its 200-day simple moving average is $5.25. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -2.05 and a beta of 1.74.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, beating 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 firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the company earned ($0.21) earnings per share. JetBlue Airways's quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that JetBlue Airways will post -2.24 earnings per share for the current fiscal year.

Insider Transactions at JetBlue Airways

In other news, Director Vivek Sharma sold 32,000 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $5.41, for a total value of $173,120.00. Following the transaction, the director directly owned 35,479 shares in the company, valued at approximately $191,941.39. This trade represents a 47.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ursula L. Hurley sold 77,253 shares of JetBlue Airways stock in a transaction dated 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 transaction, the chief financial officer directly owned 211,099 shares of the company's stock, valued at $1,215,930.24. This trade represents a 26.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 111,253 shares of company stock worth $629,597. Insiders own 2.41% of the company's stock.

Hedge Funds Weigh In On JetBlue Airways

A number of hedge funds and other institutional investors have recently bought and sold shares of JBLU. Goldman Sachs Group Inc. grew its stake in JetBlue Airways by 85.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 12,124,292 shares of the transportation company's stock worth $55,166,000 after buying an additional 5,591,470 shares during the last quarter. Bank of America Corp DE bought a new stake in JetBlue Airways in the second quarter valued at $20,022,000. Deutsche Bank AG lifted its stake in JetBlue Airways by 1,157.9% in the fourth quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company's stock valued at $15,270,000 after buying an additional 3,089,226 shares during the last quarter. Par Capital Management Inc. boosted its holdings in shares of JetBlue Airways by 105.3% during the second quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company's stock valued at $23,212,000 after acquiring an additional 2,814,870 shares during the period. Finally, Primecap Management Co. CA acquired a new position in shares of JetBlue Airways during the second quarter valued at $13,549,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

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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