The Goldman Sachs Group Reiterates “Sell” Rating for JetBlue Airways (NASDAQ:JBLU)

The Goldman Sachs Group reaffirmed their sell rating on shares of JetBlue Airways (NASDAQ:JBLU) in a research report released on Friday morning, MarketBeat Ratings reports. They currently have a $5.50 target price on the transportation company’s stock.

Other equities analysts have also recently issued research reports about the company. Citigroup raised their target price on JetBlue Airways from $6.00 to $7.75 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Evercore ISI boosted their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Susquehanna increased their target price on shares of JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $3.00 to $6.00 in a report on Monday, September 9th. Finally, Barclays raised their price objective on JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, JetBlue Airways has an average rating of “Hold” and an average target price of $6.43.

JetBlue Airways Trading Down 0.7 %

Shares of NASDAQ JBLU traded down $0.05 during mid-day trading on Friday, hitting $7.06. The company’s stock had a trading volume of 10,409,147 shares, compared to its average volume of 15,749,121. JetBlue Airways has a one year low of $4.09 and a one year high of $8.07. The company’s fifty day simple moving average is $6.47 and its 200-day simple moving average is $5.91. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -2.80 and a beta of 1.92.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm earned ($0.39) earnings per share. On average, sell-side analysts anticipate that JetBlue Airways will post -0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of JBLU. Allspring Global Investments Holdings LLC bought a new stake in JetBlue Airways in the 1st quarter valued at approximately $25,000. Bogart Wealth LLC grew its stake in shares of JetBlue Airways by 1,951.2% during the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after acquiring an additional 4,000 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of JetBlue Airways in the third quarter valued at approximately $28,000. Trust Co. of Vermont bought a new stake in shares of JetBlue Airways in the second quarter worth $27,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in JetBlue Airways during the second quarter worth $34,000. 83.71% of the stock is currently owned by institutional investors.

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.