JetBlue Airways (NASDAQ:JBLU) Sets New 1-Year Low at $4.85

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $4.85 and last traded at $4.88, with a volume of 1856669 shares trading hands. The stock had previously closed at $4.97.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Bank of America lifted their price objective on JetBlue Airways from $9.00 to $10.00 in a research note on Monday, June 26th. StockNews.com assumed coverage on JetBlue Airways in a report on Thursday, August 17th. They issued a “sell” rating for the company. Evercore ISI lowered JetBlue Airways from an “in-line” rating to an “underperform” rating and set a $8.00 target price for the company. in a report on Tuesday, July 11th. JPMorgan Chase & Co. cut their price objective on JetBlue Airways from $8.00 to $6.00 and set an “underweight” rating for the company in a report on Wednesday, August 2nd. Finally, Susquehanna cut their price objective on JetBlue Airways from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.17.

JetBlue Airways Price Performance

The firm has a market capitalization of $1.60 billion, a PE ratio of 61.38 and a beta of 1.68. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.55 and a current ratio of 0.57. The stock’s 50 day simple moving average is $6.78 and its two-hundred day simple moving average is $7.16.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, August 1st. The transportation company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.61 billion. JetBlue Airways had a net margin of 0.27% and a return on equity of 5.20%. JetBlue Airways’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.47) earnings per share. On average, sell-side analysts forecast that JetBlue Airways Co. will post 0.09 EPS for the current year.

Insider Buying and Selling

In other news, insider Gerald Alfred Spencer sold 11,879 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $6.35, for a total value of $75,431.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by insiders.

Institutional Trading of JetBlue Airways

A number of hedge funds and other institutional investors have recently made changes to their positions in JBLU. Captrust Financial Advisors boosted its position in shares of JetBlue Airways by 20.9% in the first quarter. Captrust Financial Advisors now owns 7,887 shares of the transportation company’s stock valued at $118,000 after acquiring an additional 1,365 shares during the period. Retirement Systems of Alabama increased its stake in shares of JetBlue Airways by 0.3% in the third quarter. Retirement Systems of Alabama now owns 423,984 shares of the transportation company’s stock valued at $2,811,000 after buying an additional 1,400 shares during the period. Elkhorn Partners Limited Partnership increased its stake in shares of JetBlue Airways by 9.4% in the first quarter. Elkhorn Partners Limited Partnership now owns 18,600 shares of the transportation company’s stock valued at $135,000 after buying an additional 1,600 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of JetBlue Airways by 1.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 139,221 shares of the transportation company’s stock valued at $902,000 after buying an additional 1,780 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of JetBlue Airways by 1.0% in the third quarter. Public Employees Retirement System of Ohio now owns 174,399 shares of the transportation company’s stock valued at $1,156,000 after buying an additional 1,811 shares during the period. 74.82% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2022, the company operated a fleet of 63 Airbus A321 aircraft, 14 Airbus A220 aircraft, 23 Airbus A321neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 100 destinations in the 32 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.