JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $4.50

Key Points

• UBS Group raised its price target on JetBlue Airways to $4.50 from $4.00, while keeping a sell rating on the stock. The new target still implies roughly 18% downside from the current share price.
• JetBlue reported a larger-than-expected quarterly loss of $0.87 per share, missing analyst estimates, even as revenue came in line at $2.24 billion and rose 4.7% year over year. Analysts now expect the company to post -2.67 EPS for the current fiscal year.
• The stock has drawn mixed Wall Street views, but the overall consensus remains cautious with a “Reduce” rating and an average target of $4.99. The company also saw notable insider selling, including director share sales in recent weeks.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) had its price objective lifted by analysts at UBS Group from $4.00 to $4.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "sell" rating on the transportation company's stock. UBS Group's price target would indicate a potential downside of 18.03% from the company's current price.

JBLU has been the subject of a number of other reports. Weiss Ratings restated a "sell (d-)" rating on shares of JetBlue Airways in a research report on Tuesday, April 21st. Citigroup reduced their target price on shares of JetBlue Airways from $6.00 to $4.40 and set a "neutral" rating on the stock in a research note on Friday, March 20th. TD Cowen raised shares of JetBlue Airways from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 10th. Seaport Research Partners upgraded shares of JetBlue Airways from a "neutral" rating to a "buy" rating and set a $8.00 price target on the stock in a report on Thursday, April 16th. Finally, Susquehanna increased 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $4.99.

JetBlue Airways Stock Down 3.3%

NASDAQ JBLU opened at $5.49 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 4.25. JetBlue Airways has a 12 month low of $3.84 and a 12 month high of $6.50. The stock's 50 day moving average is $5.08 and its 200 day moving average is $5.02. The stock has a market cap of $2.04 billion, a PE ratio of -2.83 and a beta of 1.73.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.15). The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.The business's revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.59) EPS. Research analysts predict that JetBlue Airways will post -2.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Vivek Sharma sold 32,000 shares of the company'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 represents a 47.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas Winkelmann sold 35,473 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $4.70, for a total transaction of $166,723.10. Following the completion of the transaction, the director directly owned 13,379 shares in the company, valued at $62,881.30. This represents a 72.61% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.41% of the company's stock.

Institutional Investors Weigh In On JetBlue Airways

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in shares of JetBlue Airways by 131.2% during the first quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company's stock valued at $436,000 after acquiring an additional 51,377 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in JetBlue Airways by 4.5% during the 1st 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. raised its position in JetBlue Airways by 6.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company's stock valued at $23,085,000 after purchasing an additional 274,892 shares in the last quarter. United Services Automobile Association bought a new position in shares of JetBlue Airways during the 1st quarter worth $106,000. Finally, Cetera Investment Advisers raised its position in shares of JetBlue Airways by 10.7% in the 2nd quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company's stock worth $130,000 after acquiring an additional 2,954 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

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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