The Goldman Sachs Group Issues Positive Forecast for JetBlue Airways (NASDAQ:JBLU) Stock Price

JetBlue Airways (NASDAQ:JBLU) had its target price hoisted by The Goldman Sachs Group from $3.50 to $4.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sell” rating on the transportation company’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 18.95% from the company’s previous close.

JBLU has been the subject of a number of other research reports. TD Cowen upped their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a report on Wednesday, January 7th. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a report on Wednesday, October 8th. Citigroup cut their price objective on JetBlue Airways from $4.10 to $4.00 and set a “sell” rating for the company in a research report on Wednesday, January 7th. Morgan Stanley dropped their price target on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, December 8th. Finally, Susquehanna boosted their price target on shares of JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a research note on Friday. Six analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $4.93.

JetBlue Airways Price Performance

JBLU stock traded up $0.05 during mid-day trading on Tuesday, reaching $4.94. The company’s stock had a trading volume of 11,291,529 shares, compared to its average volume of 17,701,609. 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’s 50 day moving average is $4.61 and its two-hundred day moving average is $4.69. JetBlue Airways has a fifty-two week low of $3.34 and a fifty-two week high of $8.31. The stock has a market cap of $1.79 billion, a PE ratio of -3.74 and a beta of 1.78.

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

Institutional Trading of JetBlue Airways

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of JetBlue Airways by 1.7% during the second quarter. Geode Capital Management LLC now owns 7,745,777 shares of the transportation company’s stock valued at $32,770,000 after acquiring an additional 128,622 shares during the last quarter. Par Capital Management Inc. boosted its stake in shares of JetBlue Airways by 105.3% during the 2nd quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock worth $23,212,000 after purchasing an additional 2,814,870 shares during the last quarter. U S Global Investors Inc. raised its position in shares of JetBlue Airways by 25.2% in the second quarter. U S Global Investors Inc. now owns 5,021,419 shares of the transportation company’s stock valued at $21,241,000 after buying an additional 1,011,279 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of JetBlue Airways by 6.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company’s stock valued at $23,085,000 after buying an additional 274,892 shares during the period. Finally, Invesco Ltd. boosted its position in JetBlue Airways by 10.1% during the second quarter. Invesco Ltd. now owns 4,513,312 shares of the transportation company’s stock worth $19,091,000 after acquiring an additional 412,921 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.