TD Cowen Cuts JetBlue Airways (NASDAQ:JBLU) Price Target to $5.00

JetBlue Airways (NASDAQ:JBLU) had its price target decreased by TD Cowen from $6.00 to $5.00 in a research report report published on Monday morning,Benzinga reports. TD Cowen currently has a hold rating on the transportation company’s stock.

Other research analysts also recently issued research reports about the company. Susquehanna increased their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. The Goldman Sachs Group lifted their price objective on JetBlue Airways from $3.50 to $4.50 and gave the stock a “sell” rating in a research note on Thursday, July 2nd. Wall Street Zen downgraded JetBlue Airways from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Raymond James Financial reissued an “underperform” rating on shares of JetBlue Airways in a research note on Monday, July 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $5.50.

JetBlue Airways Stock Down 1.8%

Shares of NASDAQ:JBLU opened at $4.99 on Monday. The company has a debt-to-equity ratio of 5.04, a current ratio of 0.70 and a quick ratio of 0.63. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -2.09 and a beta of 1.74. The company has a 50 day moving average of $5.63 and a 200-day moving average of $5.23. JetBlue Airways has a one year low of $3.87 and a one year high of $6.62.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.03. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the business posted ($0.21) earnings per share. JetBlue Airways’s revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts forecast that JetBlue Airways will post -2.31 earnings per share for the current year.

Insider Buying and Selling

In other JetBlue Airways news, CFO Ursula L. Hurley sold 77,253 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the sale, the chief financial officer directly owned 211,099 shares in the company, valued at approximately $1,215,930.24. This trade represents a 26.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.41% of the company’s stock.

Institutional Investors Weigh In On JetBlue Airways

Several large investors have recently made changes to their positions in JBLU. Stifel Financial Corp raised its holdings in JetBlue Airways by 0.6% in the 4th quarter. Stifel Financial Corp now owns 326,990 shares of the transportation company’s stock valued at $1,488,000 after buying an additional 1,928 shares during the last quarter. Vident Advisory LLC grew its holdings in JetBlue Airways by 20.2% during the 4th quarter. Vident Advisory LLC now owns 13,232 shares of the transportation company’s stock worth $60,000 after acquiring an additional 2,226 shares during the last quarter. Essex Financial Services Inc. increased its position in JetBlue Airways by 12.4% in the 4th quarter. Essex Financial Services Inc. now owns 23,504 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 2,599 shares during the period. Cetera Investment Advisers raised its stake in shares of JetBlue Airways by 10.7% during the second quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock valued at $130,000 after acquiring an additional 2,954 shares during the last quarter. Finally, Amundi raised its stake in shares of JetBlue Airways by 8.9% during the first quarter. Amundi now owns 39,447 shares of the transportation company’s stock valued at $174,000 after acquiring an additional 3,238 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

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.