JetBlue Airways (NASDAQ:JBLU) Shares Gap Down – What’s Next?

JetBlue Airways Co. (NASDAQ:JBLU) shares gapped down prior to trading on Monday . The stock had previously closed at $5.77, but opened at $5.61. JetBlue Airways shares last traded at $5.62, with a volume of 1,168,180 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on JBLU. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $3.00 to $6.00 in a report on Monday, September 9th. Susquehanna upped their target price on JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a research note on Friday, October 11th. Evercore ISI upped their target price on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Finally, TD Cowen boosted their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.98.

JetBlue Airways Price Performance

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 50 day simple moving average of $6.24 and a two-hundred day simple moving average of $5.88. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -2.34 and a beta of 1.92.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) 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 return on equity of 8.35% and a negative net margin of 9.17%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.39) earnings per share. On average, equities research analysts predict that JetBlue Airways Co. will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of JetBlue Airways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JBLU. Smith Anglin Financial LLC grew its stake in shares of JetBlue Airways by 14.6% in the third quarter. Smith Anglin Financial LLC now owns 13,839 shares of the transportation company’s stock valued at $91,000 after buying an additional 1,763 shares in the last quarter. Sage Rhino Capital LLC increased its stake in JetBlue Airways by 9.9% during the 2nd quarter. Sage Rhino Capital LLC now owns 19,834 shares of the transportation company’s stock worth $121,000 after buying an additional 1,788 shares during the period. Jeppson Wealth Management LLC raised its stake in shares of JetBlue Airways by 15.7% in the third quarter. Jeppson Wealth Management LLC now owns 13,650 shares of the transportation company’s stock valued at $90,000 after acquiring an additional 1,850 shares in the last quarter. GAMMA Investing LLC raised its position in JetBlue Airways by 79.2% in the 2nd quarter. GAMMA Investing LLC now owns 6,770 shares of the transportation company’s stock valued at $41,000 after purchasing an additional 2,993 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in JetBlue Airways by 31.6% in the first quarter. EP Wealth Advisors LLC now owns 13,548 shares of the transportation company’s stock worth $101,000 after acquiring an additional 3,255 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.