JetBlue Airways (NASDAQ:JBLU) Stock Price Down 5%

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price was down 5% during mid-day trading on Wednesday . The company traded as low as $5.47 and last traded at $5.48. Approximately 3,074,644 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 15,121,943 shares. The stock had previously closed at $5.77.

Wall Street Analyst Weigh In

JBLU has been the topic of several recent analyst reports. TD Cowen lifted their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Citigroup lowered their target price on JetBlue Airways from $6.90 to $6.50 and set a “neutral” rating for the company in a research note on Wednesday, May 29th. Finally, Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and raised their price target for the company from $3.00 to $6.00 in a research note on Monday. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.05.

JetBlue Airways Price Performance

The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50. The company has a fifty day moving average of $5.53 and a 200 day moving average of $6.01. The firm has a market capitalization of $1.89 billion, a P/E ratio of -2.25 and a beta of 1.90.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.26. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the company earned $0.45 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. Sell-side analysts predict that JetBlue Airways Co. will post -1.1 earnings per share for the current year.

Hedge Funds Weigh In On JetBlue Airways

A number of large investors have recently modified their holdings of the company. Private Advisor Group LLC raised its stake in shares of JetBlue Airways by 12.5% in the fourth quarter. Private Advisor Group LLC now owns 24,470 shares of the transportation company’s stock worth $136,000 after purchasing an additional 2,717 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in JetBlue Airways by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,861,383 shares of the transportation company’s stock worth $21,431,000 after acquiring an additional 186,185 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of JetBlue Airways by 54.3% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 17,973 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 6,324 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of JetBlue Airways by 91.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 74,462 shares of the transportation company’s stock valued at $413,000 after purchasing an additional 35,578 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in JetBlue Airways by 325.6% during the fourth quarter. Quadrant Capital Group LLC now owns 25,198 shares of the transportation company’s stock worth $140,000 after purchasing an additional 19,278 shares during the last quarter. 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.