JetBlue Airways (NASDAQ:JBLU) Given New $3.00 Price Target at UBS Group

JetBlue Airways (NASDAQ:JBLU - Get Free Report) had its price objective cut by stock analysts at UBS Group from $5.00 to $3.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "sell" rating on the transportation company's stock. UBS Group's target price indicates a potential downside of 19.14% from the stock's current price.

JBLU has been the topic of a number of other reports. Morgan Stanley reiterated an "equal weight" rating and set a $8.00 price target on shares of JetBlue Airways in a research report on Wednesday, December 11th. Raymond James raised shares of JetBlue Airways from a "market perform" rating to an "outperform" rating and set a $5.00 target price on the stock in a report on Monday, April 7th. Seaport Res Ptn cut shares of JetBlue Airways from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Bank of America cut their price target on shares of JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Finally, Susquehanna decreased their price objective on JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $5.17.

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JetBlue Airways Price Performance

Shares of JetBlue Airways stock traded up $0.02 on Monday, hitting $3.71. 22,581,028 shares of the company traded hands, compared to its average volume of 18,310,564. JetBlue Airways has a 12-month low of $3.47 and a 12-month high of $8.31. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. The company has a market cap of $1.31 billion, a P/E ratio of -1.59 and a beta of 1.69. The firm's 50-day simple moving average is $5.71 and its 200 day simple moving average is $6.50.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, beating analysts' consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same quarter in the prior year, the business earned ($0.19) EPS. Analysts expect that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other JetBlue Airways news, CFO Ursula L. Hurley sold 15,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total value of $112,500.00. Following the completion of the transaction, the chief financial officer now directly owns 41,833 shares in the company, valued at approximately $313,747.50. This represents a 26.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nik Mittal bought 100,000 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $6.14 per share, for a total transaction of $614,000.00. Following the purchase, the director now directly owns 116,443 shares in the company, valued at approximately $714,960.02. This represents a 608.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.18% of the company's stock.

Institutional Trading of JetBlue Airways

Several institutional investors and hedge funds have recently bought and sold shares of JBLU. FMR LLC raised its position in shares of JetBlue Airways by 14,595.7% in the 4th quarter. FMR LLC now owns 16,599,279 shares of the transportation company's stock worth $130,470,000 after acquiring an additional 16,486,326 shares in the last quarter. Renaissance Technologies LLC grew its stake in JetBlue Airways by 491.7% in the fourth quarter. Renaissance Technologies LLC now owns 4,274,457 shares of the transportation company's stock worth $33,597,000 after purchasing an additional 3,552,057 shares during the period. Nomura Holdings Inc. raised its holdings in JetBlue Airways by 3,729.9% in the fourth quarter. Nomura Holdings Inc. now owns 3,436,202 shares of the transportation company's stock worth $27,009,000 after purchasing an additional 3,346,482 shares in the last quarter. JPMorgan Chase & Co. lifted its position in JetBlue Airways by 88.2% during the third quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company's stock valued at $36,170,000 after buying an additional 2,584,350 shares during the period. Finally, Voloridge Investment Management LLC boosted its holdings in shares of JetBlue Airways by 60.8% during the 4th quarter. Voloridge Investment Management LLC now owns 5,203,155 shares of the transportation company's stock valued at $40,897,000 after buying an additional 1,968,343 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other 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.