The Goldman Sachs Group Issues Pessimistic Forecast for JetBlue Airways (NASDAQ:JBLU) Stock Price

JetBlue Airways (NASDAQ:JBLU) had its price target reduced by The Goldman Sachs Group from $4.00 to $3.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sell” rating on the transportation company’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 22.57% from the stock’s previous close.

JBLU has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday, January 22nd. UBS Group reduced their price objective on JetBlue Airways from $4.00 to $3.50 and set a “sell” rating for the company in a research report on Monday, March 16th. Evercore raised their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock an “in-line” rating in a research note on Thursday, January 29th. Morgan Stanley dropped their target price on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, December 8th. Finally, TD Cowen upgraded shares of JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, JetBlue Airways currently has an average rating of “Reduce” and an average price target of $4.81.

JetBlue Airways Stock Down 0.7%

JetBlue Airways stock opened at $4.52 on Wednesday. The company has a debt-to-equity ratio of 3.65, a current ratio of 0.74 and a quick ratio of 0.69. JetBlue Airways has a fifty-two week low of $3.34 and a fifty-two week high of $6.50. The firm has a fifty day moving average price of $5.08 and a two-hundred day moving average price of $4.83. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -2.71 and a beta of 1.75.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.04). JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the business posted ($0.21) earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts forecast that JetBlue Airways will post -0.69 earnings per share for the current year.

Institutional Trading of JetBlue Airways

A number of hedge funds have recently modified their holdings of JBLU. Rockefeller Capital Management L.P. increased its position in shares of JetBlue Airways by 157.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 3,373 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in 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 worth $29,000 after purchasing an additional 5,049 shares during the period. Kestra Advisory Services LLC bought a new position in JetBlue Airways in the fourth quarter worth $30,000. Bogart Wealth LLC boosted its stake in JetBlue Airways by 12,727.3% during the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after buying an additional 7,000 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in JetBlue Airways in the 4th quarter valued at $32,000. Institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.