JetBlue Airways (NASDAQ:JBLU) Price Target Lowered to $6.00 at TD Cowen

JetBlue Airways (NASDAQ:JBLU) had its target price reduced by TD Cowen from $7.00 to $6.00 in a report published on Tuesday morning, Marketbeat reports. TD Cowen currently has a hold rating on the transportation company’s stock.

A number of other equities analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised JetBlue Airways from a hold rating to a buy rating and raised their price objective for the company from $4.00 to $9.00 in a report on Tuesday, February 20th. JPMorgan Chase & Co. raised JetBlue Airways from an underweight rating to a neutral rating and set a $7.00 price objective on the stock in a report on Thursday, April 18th. Barclays assumed coverage on JetBlue Airways in a report on Wednesday, March 27th. They set an underweight rating and a $6.00 price objective on the stock. Bank of America cut JetBlue Airways from a neutral rating to an underperform rating and decreased their price objective for the company from $6.00 to $3.00 in a report on Tuesday, January 9th. Finally, Susquehanna lifted their price target on JetBlue Airways from $5.00 to $6.00 and gave the stock a neutral rating in a research note on Tuesday, April 9th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, JetBlue Airways currently has a consensus rating of Hold and an average target price of $5.78.

JetBlue Airways Stock Performance

Shares of JBLU opened at $5.78 on Tuesday. The company has a market cap of $1.97 billion, a PE ratio of -2.34 and a beta of 1.86. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.32. The stock has a 50-day moving average price of $6.86 and a 200-day moving average price of $5.66. JetBlue Airways has a 12-month low of $3.42 and a 12-month high of $9.45.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. JetBlue Airways had a negative return on equity of 5.38% and a negative net margin of 8.79%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.34) EPS. As a group, equities analysts forecast that JetBlue Airways will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

A number of hedge funds and other institutional investors have recently made changes to their positions in JBLU. Vanguard Group Inc. raised its holdings in shares of JetBlue Airways by 9.2% during the third quarter. Vanguard Group Inc. now owns 36,705,537 shares of the transportation company’s stock valued at $168,845,000 after acquiring an additional 3,099,071 shares in the last quarter. U S Global Investors Inc. raised its holdings in shares of JetBlue Airways by 24.2% during the fourth quarter. U S Global Investors Inc. now owns 9,781,327 shares of the transportation company’s stock valued at $54,286,000 after acquiring an additional 1,903,910 shares in the last quarter. Invesco Ltd. raised its holdings in shares of JetBlue Airways by 107.2% during the third quarter. Invesco Ltd. now owns 3,462,036 shares of the transportation company’s stock valued at $15,925,000 after acquiring an additional 1,791,273 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of JetBlue Airways by 49.6% during the third quarter. American Century Companies Inc. now owns 4,576,623 shares of the transportation company’s stock valued at $21,052,000 after acquiring an additional 1,518,328 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings 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 valued at $11,412,000 after acquiring an additional 1,431,113 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

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.