JetBlue Airways (NASDAQ:JBLU) Shares Gap Down to $6.05

JetBlue Airways Co. (NASDAQ:JBLU) shares gapped down before the market opened on Monday . The stock had previously closed at $6.05, but opened at $5.25. JetBlue Airways shares last traded at $5.27, with a volume of 8,035,916 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on JetBlue Airways from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. TD Cowen raised their price objective on JetBlue Airways from $4.00 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Barclays dropped their target price on JetBlue Airways from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Monday, May 6th. Finally, Citigroup reduced their price target on shares of JetBlue Airways from $6.90 to $6.50 and set a “neutral” rating for the company in a research report on Wednesday, May 29th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, JetBlue Airways presently has an average rating of “Hold” and an average target price of $5.75.

JetBlue Airways Stock Down 18.2 %

The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.51 and a current ratio of 0.54. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -2.08 and a beta of 1.93. The business’s 50 day moving average price is $5.84 and its 200 day moving average price is $6.20.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.26. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.40 billion. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $0.45 earnings per share. On average, equities analysts forecast that JetBlue Airways Co. will post -1.11 EPS for the current year.

Institutional Trading of JetBlue Airways

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in JetBlue Airways by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 37,376,886 shares of the transportation company’s stock valued at $277,336,000 after acquiring an additional 317,263 shares during the period. Dimensional Fund Advisors LP lifted its holdings in JetBlue Airways by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 17,878,115 shares of the transportation company’s stock valued at $108,875,000 after purchasing an additional 521,767 shares in the last quarter. Donald Smith & CO. Inc. grew its position in shares of JetBlue Airways by 6.5% in the first quarter. Donald Smith & CO. Inc. now owns 13,256,094 shares of the transportation company’s stock valued at $98,360,000 after purchasing an additional 805,404 shares during the period. American Century Companies Inc. increased its stake in shares of JetBlue Airways by 16.4% during the second quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock worth $48,970,000 after purchasing an additional 1,135,217 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of JetBlue Airways by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,861,383 shares of the transportation company’s stock worth $21,431,000 after purchasing an additional 186,185 shares in the last quarter. 83.71% of the stock is 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.