JetBlue Airways (NASDAQ:JBLU) Sets New 12-Month Low on Analyst Downgrade

JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report)'s share price hit a new 52-week low during trading on Monday after Citigroup lowered their price target on the stock from $7.15 to $4.25. Citigroup currently has a neutral rating on the stock. JetBlue Airways traded as low as $3.62 and last traded at $3.73, with a volume of 51212294 shares trading hands. The stock had previously closed at $4.17.

Several other equities research analysts have also commented on JBLU. Raymond James upgraded shares of JetBlue Airways from a "market perform" rating to an "outperform" rating and set a $5.00 price target on the stock in a research note on Monday, April 7th. Bank of America reduced their target price on JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating for the company in a report on Thursday, April 3rd. Susquehanna dropped their price target on JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Seaport Res Ptn cut JetBlue Airways from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Finally, Barclays lowered their target price on shares of JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating on the stock in a research report on Tuesday. 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's stock. According to MarketBeat.com, JetBlue Airways has a consensus rating of "Hold" and an average price target of $5.17.

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Insider Buying and Selling at JetBlue Airways

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

Institutional Investors Weigh In On JetBlue Airways

Several institutional investors have recently modified their holdings of the company. Entropy Technologies LP purchased a new position in shares of JetBlue Airways during the fourth quarter valued at approximately $787,000. Raymond James Financial Inc. purchased a new position in shares of JetBlue Airways during the 4th quarter worth $1,796,000. Intech Investment Management LLC boosted its holdings in shares of JetBlue Airways by 71.7% during the fourth quarter. Intech Investment Management LLC now owns 119,072 shares of the transportation company's stock worth $936,000 after purchasing an additional 49,712 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of JetBlue Airways in the fourth quarter valued at $432,000. Finally, Empowered Funds LLC increased its stake in JetBlue Airways by 8.3% in the fourth quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company's stock valued at $10,977,000 after purchasing an additional 107,293 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company's stock.

JetBlue Airways Price Performance

The company has a 50 day moving average of $5.71 and a 200 day moving average of $6.50. The company has a quick ratio of 1.18, a current ratio of 1.10 and a debt-to-equity ratio of 3.08. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -1.59 and a beta of 1.69.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, topping the consensus estimate 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 period last year, the company posted ($0.19) EPS. As a group, equities research analysts forecast that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

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.