Susquehanna Cuts JetBlue Airways (NASDAQ:JBLU) Price Target to $6.00

JetBlue Airways (NASDAQ:JBLU) had its price objective cut by Susquehanna from $8.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other brokerages have also recently weighed in on JBLU. UBS Group dropped their price target on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Citigroup raised their target price on JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Morgan Stanley reiterated an “equal weight” rating and set a $8.00 price target on shares of JetBlue Airways in a report on Wednesday, December 11th. Seaport Res Ptn cut JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Bank of America reiterated an “underperform” rating and issued a $6.50 target price on shares of JetBlue Airways in a research note on Friday, January 17th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, JetBlue Airways presently has a consensus rating of “Hold” and a consensus target price of $6.51.

JetBlue Airways Trading Up 6.2 %

Shares of JetBlue Airways stock opened at $6.50 on Tuesday. The stock has a market capitalization of $2.25 billion, a PE ratio of -2.78 and a beta of 1.83. JetBlue Airways has a 52 week low of $4.49 and a 52 week high of $8.31. The stock has a 50 day moving average price of $7.20 and a two-hundred day moving average price of $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 posted its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, beating 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 prior year, the company posted ($0.19) earnings per share. As a group, equities analysts anticipate that JetBlue Airways will post -0.58 earnings per share for the current fiscal year.

Insider Activity at JetBlue Airways

In other news, Director Nik Mittal acquired 100,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average cost of $6.14 per share, for a total transaction of $614,000.00. Following the purchase, the director now owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. The trade was a 608.16 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On JetBlue Airways

Large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of JetBlue Airways by 18.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,725,671 shares of the transportation company’s stock worth $52,864,000 after acquiring an additional 1,063,929 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in JetBlue Airways by 88.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company’s stock worth $36,170,000 after purchasing an additional 2,584,350 shares in the last quarter. SG Americas Securities LLC lifted its holdings in JetBlue Airways by 5,648.9% during the 4th quarter. SG Americas Securities LLC now owns 1,470,062 shares of the transportation company’s stock worth $11,555,000 after purchasing an additional 1,444,491 shares in the last quarter. Principal Financial Group Inc. boosted its stake in JetBlue Airways by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,447,596 shares of the transportation company’s stock worth $11,378,000 after purchasing an additional 40,452 shares during the period. Finally, Empowered Funds LLC increased its position in shares of JetBlue Airways by 8.3% during the fourth quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company’s stock valued at $10,977,000 after buying an additional 107,293 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.