JetBlue Airways (NASDAQ:JBLU) Shares Gap Down – What’s Next?

JetBlue Airways Co. (NASDAQ:JBLU) shares gapped down before the market opened on Monday . The stock had previously closed at $5.77, but opened at $5.61. JetBlue Airways shares last traded at $5.62, with a volume of 1,168,180 shares traded.

Analysts Set New Price Targets

JBLU has been the subject of a number of recent research reports. Evercore ISI upped their price objective on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Susquehanna boosted their price target on JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. TD Cowen boosted their price target on JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $3.00 to $6.00 in a research report on Monday, September 9th. Finally, Citigroup boosted their price target on JetBlue Airways from $6.00 to $7.75 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.98.

JetBlue Airways Stock Performance

The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 0.50. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -2.24 and a beta of 1.92. The company has a fifty day moving average price of $6.20 and a two-hundred day moving average price of $5.90.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, beating the consensus estimate 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 return on equity of 8.35% and a negative net margin of 9.17%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.39) earnings per share. As a group, equities research analysts expect that JetBlue Airways Co. will post -0.96 EPS for the current year.

Institutional Investors Weigh In On JetBlue Airways

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of JetBlue Airways by 0.9% during the first quarter. Vanguard Group Inc. now owns 37,376,886 shares of the transportation company’s stock worth $277,336,000 after purchasing an additional 317,263 shares during the period. Dimensional Fund Advisors LP raised its position in JetBlue Airways by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 17,878,115 shares of the transportation company’s stock valued at $108,875,000 after buying an additional 521,767 shares during the period. Donald Smith & CO. Inc. raised its position in JetBlue Airways by 6.5% during the first quarter. Donald Smith & CO. Inc. now owns 13,256,094 shares of the transportation company’s stock valued at $98,360,000 after buying an additional 805,404 shares during the period. American Century Companies Inc. raised its position in JetBlue Airways by 16.4% during the second quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock valued at $48,970,000 after buying an additional 1,135,217 shares during the period. Finally, Point72 Asset Management L.P. raised its position in JetBlue Airways by 715.3% during the second quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock valued at $9,930,000 after buying an additional 1,430,622 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

About JetBlue Airways

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.