UBS Group Boosts JetBlue Airways (NASDAQ:JBLU) Price Target to $4.00

Key Points

• UBS Group raised JetBlue Airways’ price target from $3.50 to $4.00, while keeping a sell rating on the stock. The new target still implies about 24% downside from the prior close.
• Analyst sentiment remains mixed overall: MarketBeat says JetBlue has an average rating of “Reduce” with an average price target of $4.93, though some firms have recently upgraded the stock.
• JetBlue reported a worse-than-expected quarterly loss of $0.87 per share versus estimates of $0.72, even as revenue came in line at $2.24 billion and rose 4.7% year over year.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) had its price target boosted by equities researchers at UBS Group from $3.50 to $4.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "sell" rating on the transportation company's stock. UBS Group's price target points to a potential downside of 24.24% from the stock's previous close.

JBLU has been the topic of a number of other research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of JetBlue Airways in a report on Tuesday, April 21st. TD Cowen upgraded shares of JetBlue Airways from a "hold" rating to a "strong-buy" rating in a report 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. Susquehanna lifted their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $4.93.

JetBlue Airways Price Performance

JetBlue Airways stock traded up $0.23 during trading hours on Tuesday, reaching $5.28. 32,827,321 shares of the stock were exchanged, compared to its average volume of 24,850,416. The company has a market cap of $1.96 billion, a P/E ratio of -2.72 and a beta of 1.69. 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 twelve month low of $3.84 and a twelve month high of $6.50. The stock has a 50 day moving average of $4.78 and a two-hundred day moving average of $4.90.

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 for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.15). JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the business posted ($0.59) earnings per share. The company's revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts expect that JetBlue Airways will post -2.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other JetBlue Airways news, Director Thomas Winkelmann sold 35,473 shares of the 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 sale, the director directly owned 13,379 shares in the company, valued at approximately $62,881.30. This trade represents a 72.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.41% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Essential Partners LLC lifted its position in shares of JetBlue Airways by 1,048.5% during the 1st quarter. Essential Partners LLC now owns 7,293 shares of the transportation company's stock valued at $32,000 after acquiring an additional 6,658 shares during the period. Arkadios Wealth Advisors acquired a new position in shares of JetBlue Airways during the 1st quarter valued at $88,000. Amundi lifted its position in shares of JetBlue Airways by 8.9% during the 1st quarter. Amundi now owns 39,447 shares of the transportation company's stock valued at $174,000 after acquiring an additional 3,238 shares during the period. Empowered Funds LLC lifted its position in shares of JetBlue Airways by 2.2% during the 1st quarter. Empowered Funds LLC now owns 1,432,400 shares of the transportation company's stock valued at $6,331,000 after acquiring an additional 30,670 shares during the period. Finally, Quantinno Capital Management LP lifted its position in shares of JetBlue Airways by 509.5% during the 1st quarter. Quantinno Capital Management LP now owns 649,600 shares of the transportation company's stock valued at $2,871,000 after acquiring an additional 543,017 shares during the period. Institutional investors and hedge funds own 83.71% of the company's stock.

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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