JetBlue Airways (NASDAQ:JBLU) Shares Gap Down – What’s Next?

JetBlue Airways Co. (NASDAQ:JBLU) gapped down before the market opened on Tuesday . The stock had previously closed at $7.32, but opened at $6.72. JetBlue Airways shares last traded at $6.28, with a volume of 4,902,282 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently commented on JBLU shares. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $3.00 to $6.00 in a research note on Monday, September 9th. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a research note on Friday, October 11th. Citigroup raised their price target on shares of JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Susquehanna lifted their price objective on shares of JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Evercore ISI increased their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, JetBlue Airways has a consensus rating of “Hold” and a consensus target price of $5.98.

JetBlue Airways Stock Down 16.1 %

The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -2.61 and a beta of 1.92. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.50 and a current ratio of 0.54. The firm has a 50-day moving average price of $6.12 and a two-hundred day moving average price of $5.93.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.26. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the business posted $0.45 EPS. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that JetBlue Airways Co. will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in JBLU. Vanguard Group Inc. lifted its stake in shares of JetBlue Airways by 0.9% in the first quarter. Vanguard Group Inc. now owns 37,376,886 shares of the transportation company’s stock valued at $277,336,000 after purchasing an additional 317,263 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of JetBlue Airways by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 17,878,115 shares of the transportation company’s stock valued at $108,875,000 after acquiring an additional 521,767 shares during the period. Donald Smith & CO. Inc. boosted its stake in shares of JetBlue Airways by 6.5% during the 1st quarter. Donald Smith & CO. Inc. now owns 13,256,094 shares of the transportation company’s stock worth $98,360,000 after acquiring an additional 805,404 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of JetBlue Airways by 16.4% in the 2nd quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock worth $48,970,000 after acquiring an additional 1,135,217 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in JetBlue Airways by 715.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock valued at $9,930,000 after purchasing an additional 1,430,622 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.