JetBlue Airways (NASDAQ:JBLU) Coverage Initiated at Citigroup

Analysts at Citigroup assumed coverage on shares of JetBlue Airways (NASDAQ:JBLU) in a research note issued to investors on Thursday. The brokerage set a “sell” rating and a $4.10 price target on the transportation company’s stock. Citigroup’s price objective indicates a potential downside of 12.95% from the company’s current price.

Several other research firms have also issued reports on JBLU. Susquehanna increased their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Wednesday, October 8th. UBS Group increased their price target on JetBlue Airways from $3.00 to $4.00 and gave the stock a “sell” rating in a research note on Friday, September 5th. Finally, TD Cowen boosted their price objective on JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Monday, September 8th. Six equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $5.15.

JetBlue Airways Trading Up 3.3%

JetBlue Airways stock opened at $4.71 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 3.42. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -3.57 and a beta of 1.76. The business’s fifty day simple moving average is $4.50 and its two-hundred day simple moving average is $4.68. JetBlue Airways has a 12 month low of $3.34 and a 12 month high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, October 28th. The transportation company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. JetBlue Airways had a negative net margin of 5.16% and a negative return on equity of 19.87%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the business posted ($0.16) earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities analysts predict that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd grew its stake in shares of JetBlue Airways by 639.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after acquiring an additional 5,049 shares during the last quarter. Bogart Wealth LLC boosted its stake in shares of JetBlue Airways by 12,727.3% in the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $35,000 after buying an additional 7,000 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of JetBlue Airways in the 2nd quarter valued at about $47,000. HUB Investment Partners LLC purchased a new position in JetBlue Airways during the 2nd quarter worth $45,000. Finally, GW Henssler & Associates Ltd. purchased a new position in JetBlue Airways in the 1st quarter valued at about $52,000. 83.71% of the stock is currently owned by institutional investors.

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.