Raymond James & Associates Sells 50,044 Shares of JetBlue Airways Co. (NASDAQ:JBLU)

Raymond James & Associates lessened its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 37.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,200 shares of the transportation company’s stock after selling 50,044 shares during the period. Raymond James & Associates’ holdings in JetBlue Airways were worth $456,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. CWM LLC raised its position in JetBlue Airways by 458.5% during the 3rd quarter. CWM LLC now owns 26,836 shares of the transportation company’s stock valued at $123,000 after purchasing an additional 22,031 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of JetBlue Airways by 57.7% in the third quarter. SG Americas Securities LLC now owns 351,648 shares of the transportation company’s stock valued at $1,618,000 after acquiring an additional 128,716 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in JetBlue Airways by 410.6% in the third quarter. State of Alaska Department of Revenue now owns 207,484 shares of the transportation company’s stock worth $954,000 after acquiring an additional 166,847 shares during the period. Handelsbanken Fonder AB grew its holdings in JetBlue Airways by 19.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 48,400 shares of the transportation company’s stock worth $223,000 after acquiring an additional 7,800 shares in the last quarter. Finally, Maryland State Retirement & Pension System purchased a new position in JetBlue Airways during the 3rd quarter valued at about $565,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Price Performance

Shares of JBLU stock opened at $5.78 on Friday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -2.34 and a beta of 1.86. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.57 and a current ratio of 0.60. The stock’s 50-day simple moving average is $6.86 and its 200-day simple moving average is $5.66. JetBlue Airways Co. has a fifty-two week low of $3.42 and a fifty-two week high of $9.45.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. JetBlue Airways had a negative net margin of 8.79% and a negative return on equity of 5.38%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the business posted ($0.34) EPS. JetBlue Airways’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities analysts forecast that JetBlue Airways Co. will post -0.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on JBLU shares. TD Cowen lowered their price target on shares of JetBlue Airways from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday. Evercore ISI increased their target price on JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft raised JetBlue Airways from a “hold” rating to a “buy” rating and boosted their price target for the stock from $4.00 to $9.00 in a research report on Tuesday, February 20th. UBS Group began coverage on JetBlue Airways in a research report on Wednesday, March 20th. They set a “sell” rating and a $5.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of JetBlue Airways from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, JetBlue Airways has a consensus rating of “Hold” and a consensus price target of $5.78.

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.