Raymond James Financial Reaffirms "Underperform" Rating for JetBlue Airways (NASDAQ:JBLU)

Key Points

• Raymond James Financial reaffirmed its "underperform" rating on JetBlue Airways, keeping a cautious stance on the stock despite some mixed analyst views.
• Wall Street sentiment remains divided: while some firms raised price targets or upgraded the stock, the overall consensus is still "Reduce" with an average price target of $5.21.
• JetBlue recently reported a wider-than-expected quarterly loss of $0.87 per share, though revenue of $2.24 billion matched estimates and rose 4.7% year over year.

JetBlue Airways (NASDAQ:JBLU - Get Free Report)'s stock had its "underperform" rating restated by analysts at Raymond James Financial in a note issued to investors on Monday,Benzinga reports.

Other equities research analysts have also issued research reports about the stock. Citigroup lifted their target price on shares of JetBlue Airways from $4.40 to $6.60 and gave the company a "neutral" rating in a research note on Friday, June 26th. BMO Capital Markets began coverage on JetBlue Airways in a report on Tuesday, March 24th. They set a "market perform" rating and a $4.50 price objective for the company. Wall Street Zen upgraded JetBlue Airways from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 23rd. UBS Group upped 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. Finally, Seaport Research Partners raised JetBlue Airways from a "neutral" rating to a "buy" rating and set a $8.00 price target for the company in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $5.21.

JetBlue Airways Stock Performance

NASDAQ:JBLU opened at $6.02 on Monday. The company has a debt-to-equity ratio of 4.25, a current ratio of 0.70 and a quick ratio of 0.64. JetBlue Airways has a fifty-two week low of $3.87 and a fifty-two week high of $6.50. The stock's 50-day moving average is $5.16 and its two-hundred day moving average is $5.08. The stock has a market cap of $2.24 billion, a PE ratio of -3.10 and a beta of 1.73.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last posted its quarterly earnings results 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). JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.The company had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same period last year, the company earned ($0.59) earnings per share. JetBlue Airways's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that JetBlue Airways will post -2.64 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 company's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $5.41, for a total transaction of $173,120.00. Following the completion of the sale, the director owned 35,479 shares in the company, valued at approximately $191,941.39. This represents a 47.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value 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. The trade was a 72.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.41% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in JBLU. Rockefeller Capital Management L.P. increased its stake in JetBlue Airways by 157.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company's stock valued at $25,000 after acquiring an additional 3,373 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of JetBlue Airways by 639.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company's stock worth $29,000 after purchasing an additional 5,049 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of JetBlue Airways during the 4th quarter worth approximately $30,000. Leonteq Securities AG bought a new stake in shares of JetBlue Airways during the fourth quarter valued at approximately $32,000. Finally, Essential Partners LLC increased its position in shares of JetBlue Airways by 1,048.5% during the first quarter. Essential Partners LLC now owns 7,293 shares of the transportation company's stock valued at $32,000 after purchasing an additional 6,658 shares during the period. Institutional investors own 83.71% of the company's stock.

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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