JetBlue Airways (NASDAQ:JBLU) Shares Down 3.9% – Here’s What Happened

JetBlue Airways Co. (NASDAQ:JBLU) shares traded down 3.9% during mid-day trading on Thursday . The company traded as low as $7.54 and last traded at $7.55. 8,512,920 shares changed hands during trading, a decline of 47% from the average session volume of 15,973,212 shares. The stock had previously closed at $7.86.

Analysts Set New Price Targets

Several brokerages recently commented on JBLU. Morgan Stanley reaffirmed an “equal weight” rating and issued a $8.00 target price on shares of JetBlue Airways in a research report on Wednesday, December 11th. Barclays raised their price objective on shares of JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Thursday, November 14th. The Goldman Sachs Group reissued a “sell” rating and issued a $5.50 target price on shares of JetBlue Airways in a research note on Friday, November 15th. Evercore ISI lifted their price objective on JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Finally, Bank of America raised JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.55.

JetBlue Airways Trading Up 0.4 %

The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98. The stock has a market cap of $2.61 billion, a P/E ratio of -2.98 and a beta of 1.84. The business’s fifty day simple moving average is $6.72 and its 200 day simple moving average is $6.21.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. JetBlue Airways’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.39) earnings per share. As a group, analysts expect that JetBlue Airways Co. will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in JBLU. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in JetBlue Airways by 60.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,193 shares of the transportation company’s stock valued at $227,000 after purchasing an additional 14,021 shares during the period. Commonwealth Equity Services LLC raised its stake in JetBlue Airways by 13.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 232,849 shares of the transportation company’s stock worth $1,418,000 after buying an additional 28,054 shares during the period. Victory Capital Management Inc. lifted its holdings in JetBlue Airways by 101.3% during the second quarter. Victory Capital Management Inc. now owns 137,941 shares of the transportation company’s stock worth $840,000 after acquiring an additional 69,399 shares in the last quarter. Total Investment Management Inc. grew its stake in JetBlue Airways by 32.6% in the second quarter. Total Investment Management Inc. now owns 17,727 shares of the transportation company’s stock valued at $108,000 after acquiring an additional 4,355 shares during the period. Finally, PFG Investments LLC increased its holdings in shares of JetBlue Airways by 45.4% in the second quarter. PFG Investments LLC now owns 102,766 shares of the transportation company’s stock worth $626,000 after acquiring an additional 32,075 shares in the last quarter. Institutional investors and hedge funds 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.