JetBlue Airways (NASDAQ:JBLU) Shares Gap Down to $7.51

JetBlue Airways Co. (NASDAQ:JBLU) shares gapped down prior to trading on Tuesday . The stock had previously closed at $7.51, but opened at $6.11. JetBlue Airways shares last traded at $6.44, with a volume of 11,918,703 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently commented on JBLU. Deutsche Bank Aktiengesellschaft raised shares of JetBlue Airways from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $4.00 to $9.00 in a report on Tuesday, February 20th. JPMorgan Chase & Co. upgraded JetBlue Airways from an “underweight” rating to a “neutral” rating and set a $7.00 price target on the stock in a report on Thursday, April 18th. Barclays started coverage on JetBlue Airways in a report on Wednesday, March 27th. They set an “underweight” rating and a $6.00 price objective for the company. Bank of America cut JetBlue Airways from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $6.00 to $3.00 in a research report on Tuesday, January 9th. Finally, Evercore ISI lifted their price objective on JetBlue Airways from $5.00 to $8.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, JetBlue Airways currently has a consensus rating of “Hold” and a consensus price target of $5.86.

JetBlue Airways Stock Down 15.7 %

The firm has a 50 day moving average price of $6.97 and a 200-day moving average price of $5.64. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.60 and a quick ratio of 0.57. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -7.06 and a beta of 1.86.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, January 30th. The transportation company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.10. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.29 billion. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. As a group, equities analysts predict that JetBlue Airways Co. will post -0.72 EPS for the current fiscal year.

Institutional Trading of JetBlue Airways

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of JetBlue Airways by 9.2% in the third quarter. Vanguard Group Inc. now owns 36,705,537 shares of the transportation company’s stock valued at $168,845,000 after buying an additional 3,099,071 shares in the last quarter. U S Global Investors Inc. boosted its holdings in shares of JetBlue Airways by 24.2% in the 4th quarter. U S Global Investors Inc. now owns 9,781,327 shares of the transportation company’s stock valued at $54,286,000 after purchasing an additional 1,903,910 shares in the last quarter. Invesco Ltd. raised its stake in JetBlue Airways by 107.2% during the third quarter. Invesco Ltd. now owns 3,462,036 shares of the transportation company’s stock worth $15,925,000 after acquiring an additional 1,791,273 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of JetBlue Airways by 49.6% in the 3rd quarter. American Century Companies Inc. now owns 4,576,623 shares of the transportation company’s stock valued at $21,052,000 after purchasing an additional 1,518,328 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of JetBlue Airways by 136.3% during the third quarter. AQR Capital Management LLC now owns 2,480,796 shares of the transportation company’s stock worth $11,412,000 after buying an additional 1,431,113 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.