JetBlue Airways (NASDAQ:JBLU) Given New $6.00 Price Target at Susquehanna

JetBlue Airways (NASDAQ:JBLU) had its price target lowered by Susquehanna from $8.00 to $6.00 in a research note published on Tuesday,Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

A number of other analysts also recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $8.00 price objective on shares of JetBlue Airways in a report on Wednesday, December 11th. Citigroup upped their price objective on JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. StockNews.com raised JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Barclays upped their target price on JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $5.50 price target on shares of JetBlue Airways in a research note on Friday, November 15th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JetBlue Airways presently has an average rating of “Hold” and an average price target of $6.51.

JetBlue Airways Price Performance

JetBlue Airways stock opened at $6.50 on Tuesday. The business has a 50-day simple moving average of $7.20 and a 200 day simple moving average of $6.43. JetBlue Airways has a 52 week low of $4.49 and a 52 week high of $8.31. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -2.78 and a beta of 1.83. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 2.98.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data 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 net margin of 8.57% and a negative return on equity of 9.29%. During the same period in the previous year, the business earned ($0.19) EPS. On average, research analysts forecast that JetBlue Airways will post -0.58 earnings per share for the current fiscal year.

Insider Activity

In other JetBlue Airways news, Director Nik Mittal bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average price of $6.14 per share, for a total transaction of $614,000.00. Following the completion of the acquisition, the director now directly owns 116,443 shares in the company, valued at $714,960.02. The trade was a 608.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JBLU. Bogart Wealth LLC boosted its stake 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 purchasing an additional 4,000 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in JetBlue Airways in the third quarter worth about $28,000. Blue Trust Inc. boosted its position in JetBlue Airways by 130.8% during the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 2,538 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of JetBlue Airways during the 4th quarter worth approximately $40,000. Finally, R Squared Ltd bought a new position in shares of JetBlue Airways in the 4th quarter worth approximately $58,000. 83.71% of the stock is owned by hedge funds and other 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.