JPMorgan Chase & Co. Lowers JetBlue Airways (NASDAQ:JBLU) Price Target to $6.00

JetBlue Airways (NASDAQ:JBLU) had its target price decreased by JPMorgan Chase & Co. from $7.00 to $6.00 in a research report report published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

JBLU has been the topic of several other reports. Susquehanna increased their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a neutral rating in a research note on Tuesday, April 9th. Barclays began coverage on shares of JetBlue Airways in a research note on Wednesday, March 27th. They issued an underweight rating and a $6.00 price target on the stock. Evercore ISI increased their price target on shares of JetBlue Airways from $5.00 to $8.00 and gave the company an in-line rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upgraded shares of JetBlue Airways from a hold rating to a buy rating and increased their price target for the company from $4.00 to $9.00 in a research note on Tuesday, February 20th. Finally, Bank of America lowered shares of 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 note on Tuesday, January 9th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $5.78.

JetBlue Airways Stock Performance

Shares of NASDAQ:JBLU opened at $5.78 on Wednesday. The firm’s 50 day moving average price is $6.86 and its 200 day moving average price is $5.67. JetBlue Airways has a fifty-two week low of $3.42 and a fifty-two week high of $9.45. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.32.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, April 23rd. The transportation company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.10. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. JetBlue Airways had a negative net margin of 8.79% and a negative return on equity of 5.38%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.34) earnings per share. Equities research analysts predict that JetBlue Airways will post -1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in JetBlue Airways by 9.2% in the 3rd 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 during the last quarter. U S Global Investors Inc. grew its position in 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 buying an additional 1,903,910 shares during the last quarter. Invesco Ltd. grew its position in JetBlue Airways by 107.2% in the 3rd quarter. Invesco Ltd. now owns 3,462,036 shares of the transportation company’s stock valued at $15,925,000 after buying an additional 1,791,273 shares during the last quarter. American Century Companies Inc. grew its position in 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 buying an additional 1,518,328 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in JetBlue Airways by 136.3% in the 3rd quarter. AQR Capital Management LLC now owns 2,480,796 shares of the transportation company’s stock valued at $11,412,000 after buying an additional 1,431,113 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other 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.