Morgan Stanley Lowers JetBlue Airways (NASDAQ:JBLU) Price Target to $7.00

JetBlue Airways (NASDAQ:JBLU) had its target price decreased by equities research analysts at Morgan Stanley from $8.00 to $7.00 in a research report issued on Monday, Marketbeat Ratings reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s price objective indicates a potential upside of 41.13% from the stock’s previous close.

Several other equities analysts have also recently commented on JBLU. TD Cowen boosted their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a report on Monday, September 8th. Susquehanna lifted their price objective on JetBlue Airways from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. UBS Group boosted their target price on JetBlue Airways from $3.00 to $4.00 and gave the company a “sell” rating in a research note on Friday, September 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a research report on Wednesday, October 8th. Finally, Citigroup initiated coverage on JetBlue Airways in a report on Thursday, December 4th. They set a “sell” rating and a $4.10 price target for the company. Six investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, JetBlue Airways currently has an average rating of “Reduce” and an average price target of $5.04.

JetBlue Airways Stock Performance

Shares of NASDAQ JBLU opened at $4.96 on Monday. The stock’s fifty day simple moving average is $4.49 and its 200 day simple moving average is $4.67. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -3.76 and a beta of 1.76. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 3.42. JetBlue Airways has a 52-week low of $3.34 and a 52-week high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, October 28th. The transportation company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.03. JetBlue Airways had a negative net margin of 5.16% and a negative return on equity of 19.87%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the company posted ($0.16) EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of JetBlue Airways

Several large investors have recently modified their holdings of JBLU. Caitong International Asset Management Co. Ltd boosted its position in shares of JetBlue Airways by 639.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 5,049 shares during the period. Bogart Wealth LLC raised its stake in JetBlue Airways by 12,727.3% during the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 7,000 shares during the last quarter. HUB Investment Partners LLC acquired a new position in JetBlue Airways during the 2nd quarter valued at $45,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of JetBlue Airways during the 2nd quarter worth about $47,000. Finally, Ballentine Partners LLC acquired a new position in shares of JetBlue Airways during the second quarter valued at about $48,000. 83.71% of the stock is owned by institutional investors.

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.