JetBlue Airways (NASDAQ:JBLU) Shares Gap Down – Here’s What Happened

JetBlue Airways Co. (NASDAQ:JBLU) gapped down before the market opened on Monday . The stock had previously closed at $5.77, but opened at $5.61. JetBlue Airways shares last traded at $5.62, with a volume of 1,168,180 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JBLU. Evercore ISI increased their target price on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Susquehanna upped their target price on shares of JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Citigroup lifted their price target on JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen raised their target price on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a report on Friday, September 6th. Finally, Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Four 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’s stock. According to MarketBeat, JetBlue Airways currently has a consensus rating of “Hold” and a consensus target price of $5.98.

JetBlue Airways Stock Up 3.3 %

The company has a market cap of $2.05 billion, a P/E ratio of -2.34 and a beta of 1.92. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18. The company has a 50 day moving average of $6.24 and a 200-day moving average of $5.88.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the business posted ($0.39) earnings per share. The company’s revenue was up .5% on a year-over-year basis. On average, equities analysts predict that JetBlue Airways Co. will post -0.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JBLU. Smith Anglin Financial LLC boosted its holdings in shares of JetBlue Airways by 14.6% during the 3rd quarter. Smith Anglin Financial LLC now owns 13,839 shares of the transportation company’s stock valued at $91,000 after acquiring an additional 1,763 shares during the last quarter. Sage Rhino Capital LLC lifted its position in shares of JetBlue Airways by 9.9% in the second quarter. Sage Rhino Capital LLC now owns 19,834 shares of the transportation company’s stock valued at $121,000 after acquiring an additional 1,788 shares in the last quarter. Jeppson Wealth Management LLC boosted its stake in shares of JetBlue Airways by 15.7% in the third quarter. Jeppson Wealth Management LLC now owns 13,650 shares of the transportation company’s stock worth $90,000 after acquiring an additional 1,850 shares during the period. GAMMA Investing LLC raised its stake in JetBlue Airways by 79.2% during the 2nd quarter. GAMMA Investing LLC now owns 6,770 shares of the transportation company’s stock valued at $41,000 after purchasing an additional 2,993 shares during the period. Finally, EP Wealth Advisors LLC lifted its holdings in JetBlue Airways by 31.6% in the 1st quarter. EP Wealth Advisors LLC now owns 13,548 shares of the transportation company’s stock worth $101,000 after purchasing an additional 3,255 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

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.