JetBlue Airways (NASDAQ:JBLU) Shares Gap Down to $7.51

Shares of JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $7.51, but opened at $6.11. JetBlue Airways shares last traded at $6.44, with a volume of 11,918,703 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on JBLU shares. UBS Group started coverage on shares of JetBlue Airways in a research report on Wednesday, March 20th. They set a "sell" rating and a $5.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of JetBlue Airways from an "underweight" rating to a "neutral" rating and set a $7.00 price objective for the company in a research report on Thursday, April 18th. Barclays started coverage on shares of JetBlue Airways in a research report on Wednesday, March 27th. They set an "underweight" rating and a $6.00 price objective for the company. Bank of America lowered shares of JetBlue Airways from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $6.00 to $3.00 in a research report on Tuesday, January 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of JetBlue Airways from a "hold" rating to a "buy" rating and increased their price objective for the company from $4.00 to $9.00 in a research report on Tuesday, February 20th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $5.88.

JetBlue Airways Stock Down 18.8 %

The company's fifty day moving average price is $6.97 and its 200-day moving average price is $5.64. The stock has a market cap of $2.07 billion, a P/E ratio of -6.45 and a beta of 1.86. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.57 and a current ratio of 0.60.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The transportation company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.10. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the business posted $0.22 EPS. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts forecast that JetBlue Airways Co. will post -0.72 EPS for the current year.

Institutional Investors Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in JetBlue Airways by 27.4% during the 3rd quarter. Barclays PLC now owns 424,972 shares of the transportation company's stock valued at $1,955,000 after buying an additional 91,403 shares in the last quarter. AQR Capital Management LLC increased its position in JetBlue Airways by 136.3% during the 3rd quarter. AQR Capital Management LLC now owns 2,480,796 shares of the transportation company's stock valued at $11,412,000 after purchasing an additional 1,431,113 shares during the period. U S Global Investors Inc. increased its position in JetBlue Airways by 12.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,877,417 shares of the transportation company's stock valued at $36,236,000 after purchasing an additional 866,863 shares during the period. Citigroup Inc. increased its position in JetBlue Airways by 9.4% during the 3rd quarter. Citigroup Inc. now owns 377,628 shares of the transportation company's stock valued at $1,737,000 after purchasing an additional 32,516 shares during the period. Finally, Quantbot Technologies LP increased its position in JetBlue Airways by 173.7% during the 3rd quarter. Quantbot Technologies LP now owns 162,909 shares of the transportation company's stock valued at $749,000 after purchasing an additional 103,384 shares during the period. Institutional investors own 83.71% of the company's stock.

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.