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

JetBlue Airways Co. (NASDAQ:JBLU) 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 trading hands.

Analysts Set New Price Targets

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

JetBlue Airways Stock Down 2.5 %

The company has a fifty day moving average price of $5.92 and a 200-day moving average price of $5.92. The stock has a market capitalization of $2.51 billion, a P/E ratio of -2.98 and a beta of 1.92. The company has a quick ratio of 0.50, a current ratio of 0.54 and a debt-to-equity ratio of 1.86.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the company earned $0.45 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, research analysts forecast that JetBlue Airways Co. will post -0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. lifted its stake in shares of 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 during the last quarter. American Century Companies Inc. boosted its stake in 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 buying an additional 1,135,217 shares during the period. Donald Smith & CO. Inc. increased its position in JetBlue Airways by 6.5% during 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 acquiring an additional 805,404 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of JetBlue Airways by 1,932.3% in the second quarter. Quantbot Technologies LP now owns 588,893 shares of the transportation company’s stock valued at $3,586,000 after acquiring an additional 559,917 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of JetBlue Airways by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 17,878,115 shares of the transportation company’s stock worth $108,875,000 after acquiring an additional 521,767 shares during the last quarter. 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.