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

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price 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 changing hands.

Analyst Ratings Changes

Several research firms recently commented on JBLU. Evercore ISI upped their target price on JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research note on Friday, October 11th. Citigroup upped their target price on JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and upped their target price for the company from $3.00 to $6.00 in a research note on Monday, September 9th. Finally, Susquehanna upped their target price on JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.98.

JetBlue Airways Stock Down 2.4 %

The firm has a 50-day moving average of $6.20 and a 200 day moving average of $5.90. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -2.24 and a beta of 1.92. The company has a current ratio of 1.21, a quick ratio of 0.50 and a debt-to-equity ratio of 2.98.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the business earned ($0.39) EPS. JetBlue Airways’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts anticipate that JetBlue Airways Co. will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On JetBlue Airways

A number of institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in JetBlue Airways during the 1st quarter worth $25,000. Sequoia Financial Advisors LLC grew its stake in JetBlue Airways by 24.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 22,023 shares of the transportation company’s stock worth $163,000 after buying an additional 4,275 shares during the last quarter. BNP Paribas Financial Markets grew its stake in JetBlue Airways by 21.1% during the 1st quarter. BNP Paribas Financial Markets now owns 486,676 shares of the transportation company’s stock worth $3,611,000 after buying an additional 84,766 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in JetBlue Airways by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 291,021 shares of the transportation company’s stock worth $2,159,000 after buying an additional 4,157 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in JetBlue Airways by 41.6% during the 1st quarter. Empowered Funds LLC now owns 1,080,044 shares of the transportation company’s stock worth $8,014,000 after buying an additional 317,097 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

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.