JetBlue Airways (NASDAQ:JBLU) Downgraded to Hold Rating by Seaport Res Ptn

JetBlue Airways (NASDAQ:JBLU) was downgraded by investment analysts at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on JBLU. UBS Group decreased their target price on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a report on Wednesday. Susquehanna raised their target price on shares of JetBlue Airways from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Evercore ISI raised their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $8.00 price target on shares of JetBlue Airways in a report on Wednesday, December 11th. Finally, Barclays lifted their price target on shares of JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.69.

JetBlue Airways Price Performance

NASDAQ:JBLU opened at $6.10 on Tuesday. JetBlue Airways has a 52 week low of $4.49 and a 52 week high of $8.31. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -2.42 and a beta of 1.84. The firm’s 50-day simple moving average is $7.18 and its 200 day simple moving average is $6.43. 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) last released its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. During the same period last year, the company posted ($0.19) EPS. As a group, sell-side analysts predict that JetBlue Airways will post -0.81 earnings per share for the current year.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC lifted its position in shares of JetBlue Airways by 1,951.2% in the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after purchasing an additional 4,000 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of JetBlue Airways in the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of JetBlue Airways in the 2nd quarter worth approximately $34,000. Blue Trust Inc. lifted its position in shares of JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after purchasing an additional 2,538 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of JetBlue Airways in the 4th quarter worth approximately $40,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.