JetBlue Airways’ (JBLU) “Underperform” Rating Reaffirmed at Bank of America

Bank of America reiterated their underperform rating on shares of JetBlue Airways (NASDAQ:JBLU) in a research note released on Friday, Marketbeat reports. Bank of America currently has a $6.50 price target on the transportation company’s stock.

A number of other brokerages have also recently commented on JBLU. Susquehanna lifted their price target on JetBlue Airways from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Barclays lifted their target price on JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Thursday, November 14th. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Evercore ISI lifted their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Finally, Citigroup increased their price objective on shares of JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Five analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, JetBlue Airways presently has an average rating of “Hold” and a consensus price target of $6.69.

JetBlue Airways Stock Performance

JBLU opened at $7.64 on Friday. The company has a market cap of $2.65 billion, a P/E ratio of -3.03 and a beta of 1.84. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 2.98. The firm’s 50-day moving average price is $7.04 and its 200-day moving average price is $6.34. JetBlue Airways has a 52-week low of $4.49 and a 52-week high of $8.28.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business posted ($0.39) EPS. JetBlue Airways’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities analysts anticipate that JetBlue Airways will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

A number of institutional investors have recently modified their holdings of JBLU. Maverick Capital Ltd. boosted its position in JetBlue Airways by 136.1% during the third quarter. Maverick Capital Ltd. now owns 245,657 shares of the transportation company’s stock worth $1,612,000 after purchasing an additional 141,605 shares in the last quarter. Quantbot Technologies LP grew its stake in JetBlue Airways by 56.7% in the 3rd quarter. Quantbot Technologies LP now owns 922,925 shares of the transportation company’s stock valued at $6,054,000 after acquiring an additional 334,032 shares during the period. Jade Capital Advisors LLC increased its holdings in JetBlue Airways by 800.0% in the 3rd quarter. Jade Capital Advisors LLC now owns 450,000 shares of the transportation company’s stock worth $2,952,000 after acquiring an additional 400,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in JetBlue Airways by 13.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock worth $37,141,000 after acquiring an additional 663,865 shares during the period. Finally, Privium Fund Management UK Ltd purchased a new position in JetBlue Airways during the third quarter valued at $794,000. 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.