JetBlue Airways (NASDAQ:JBLU) Given Underperform Rating at Bank of America

Bank of America reissued their underperform rating on shares of JetBlue Airways (NASDAQ:JBLU - Free Report) in a research report released on Friday morning, Marketbeat reports. The firm currently has a $6.50 target price on the transportation company's stock.

JBLU has been the topic of several other reports. Susquehanna raised their price target on JetBlue Airways from $6.00 to $8.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group restated a "sell" rating and issued a $5.50 target price on shares of JetBlue Airways in a report on Friday, November 15th. Citigroup upped their price target on shares of JetBlue Airways from $6.85 to $7.60 and gave the company a "neutral" rating in a report on Wednesday, December 18th. StockNews.com upgraded shares of JetBlue Airways to a "sell" rating in a research report on Thursday, November 7th. Finally, UBS Group reiterated a "sell" rating and set a $5.00 target price on shares of JetBlue Airways in a report on Tuesday, November 26th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $6.69.

JetBlue Airways Price Performance

JBLU traded up $0.03 during midday trading on Friday, hitting $7.64. The stock had a trading volume of 14,505,389 shares, compared to its average volume of 12,766,366. JetBlue Airways has a 1 year low of $4.49 and a 1 year high of $8.28. The company has a market cap of $2.65 billion, a P/E ratio of -3.03 and a beta of 1.84. The business has a fifty day moving average of $7.04 and a 200 day moving average of $6.34. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm posted ($0.39) earnings per share. The firm's revenue for the quarter was up .5% on a year-over-year basis. As a group, equities analysts forecast that JetBlue Airways will post -0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds have recently made changes to their positions in JBLU. Bogart Wealth LLC boosted its holdings 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 valued at $28,000 after buying an additional 4,000 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of JetBlue Airways in the third quarter worth $28,000. Strategic Investment Solutions Inc. IL bought a new stake in JetBlue Airways during the 2nd quarter valued at about $34,000. Point72 DIFC Ltd bought a new stake in shares of JetBlue Airways during the second quarter valued at approximately $48,000. Finally, Glenmede Trust Co. NA purchased a new position in shares of JetBlue Airways in the third quarter worth $66,000. 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.