JetBlue Airways (NASDAQ:JBLU) Shares Gap Down - Time to Sell?

JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $4.74, but opened at $4.52. JetBlue Airways shares last traded at $4.49, with a volume of 6,358,405 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of JetBlue Airways to a "sell" rating in a report on Thursday, May 15th. Susquehanna dropped their price objective on JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Barclays reduced their target price on JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Bank of America decreased their target price on JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Finally, UBS Group dropped their price target on JetBlue Airways from $5.00 to $3.00 and set a "sell" rating on the stock in a research note on Monday, April 7th. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $5.16.

JetBlue Airways Stock Up 2.2%

The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. The stock has a market cap of $1.62 billion, a P/E ratio of -1.95 and a beta of 1.83. The firm has a 50-day simple moving average of $4.53 and a two-hundred day simple moving average of $5.88.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The transportation company reported ($0.59) EPS for the quarter, topping analysts' consensus estimates of ($0.61) by $0.02. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the firm earned ($0.43) earnings per share. JetBlue Airways's revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts expect that JetBlue Airways Co. will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Several institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in JetBlue Airways by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,447,596 shares of the transportation company's stock valued at $11,378,000 after acquiring an additional 40,452 shares in the last quarter. CIBC Asset Management Inc raised its stake in JetBlue Airways by 6.4% in the fourth quarter. CIBC Asset Management Inc now owns 30,416 shares of the transportation company's stock valued at $239,000 after purchasing an additional 1,823 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in JetBlue Airways during the fourth quarter worth about $40,000. Handelsbanken Fonder AB grew its stake in JetBlue Airways by 19.4% during the fourth quarter. Handelsbanken Fonder AB now owns 57,800 shares of the transportation company's stock worth $454,000 after buying an additional 9,400 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new stake in JetBlue Airways during the fourth quarter worth about $1,651,000. 83.71% of the stock is currently owned by institutional investors.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.