JetBlue Airways (NASDAQ:JBLU) Shares Gap Down – Should You Sell?

JetBlue Airways Co. (NASDAQ:JBLU) shares gapped down before the market opened on Monday . The stock had previously closed at $8.05, but opened at $7.58. JetBlue Airways shares last traded at $7.61, with a volume of 2,002,357 shares.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on JBLU shares. TD Cowen upped their target price on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Citigroup increased their price objective on JetBlue Airways from $5.75 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Evercore ISI boosted their target price 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. Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $3.00 to $6.00 in a research note on Monday, September 9th. Finally, StockNews.com raised JetBlue Airways to a “sell” rating in a research report on Friday, October 11th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.80.

JetBlue Airways Stock Performance

The stock has a market cap of $2.57 billion, a PE ratio of -3.08 and a beta of 1.92. The stock has a fifty day simple moving average of $5.81 and a two-hundred day simple moving average of $5.91. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.50 and a current ratio of 0.54.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.26. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the business earned $0.45 EPS. The business’s revenue was down 8.0% on a year-over-year basis. Equities analysts anticipate that JetBlue Airways Co. will post -0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Maverick Capital Ltd. acquired a new position in shares of JetBlue Airways in the 2nd quarter valued at approximately $634,000. BNP Paribas Financial Markets grew its holdings 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 acquiring an additional 84,766 shares in the last quarter. Texas Permanent School Fund Corp increased its position in shares of JetBlue Airways by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 291,021 shares of the transportation company’s stock worth $2,159,000 after purchasing an additional 4,157 shares during the last quarter. CWM LLC raised its stake in shares of JetBlue Airways by 20.2% in the 1st quarter. CWM LLC now owns 30,224 shares of the transportation company’s stock valued at $224,000 after purchasing an additional 5,069 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of JetBlue Airways by 208.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 391,614 shares of the transportation company’s stock worth $2,851,000 after purchasing an additional 264,460 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.