BofA Securities slashes price target on JetBlue Airways Corporation [JBLU] – find out why.

JetBlue Airways Corporation [NASDAQ: JBLU] closed the trading session at $7.16 on 10/21/22. The day’s price range saw the stock hit a low of $6.91, while the highest price level was $7.20. The company report on October 19, 2022 that Spirit Announces Stockholder Approval of Merger Agreement with JetBlue.


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Transaction Expected to Close No Later Than the First Half of 2024.

Spirit Airlines, Inc. (“Spirit” or the “Company”) (NYSE:SAVE) today announced that its stockholders approved the merger agreement with JetBlue Airways Corporation (“JetBlue”) (NASDAQ: JBLU). Based on the preliminary voting results provided by the independent inspector of election at the special meeting of stockholders held today, more than 50% of the outstanding shares of Spirit common stock voted in favor of the transaction. The final voting results of the special meeting, as tabulated by an independent inspector of elections, will be filed on a Form 8-K with the U.S. Securities and Exchange Commission.

The stocks have a year to date performance of -49.72 percent and weekly performance of 7.35 percent. The stock has been moved at -44.37 percent over the last six months. The stock has performed 0.85 percent around the most recent 30 days and changed -15.17 percent over the most recent 3-months.

If compared to the average trading volume of 11.60M shares, JBLU reached to a volume of 10736412 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about JetBlue Airways Corporation [JBLU]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for JBLU shares is $9.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on JBLU stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for JetBlue Airways Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 04, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price to Neutral. The new note on the price target was released on August 03, 2022, representing the official price target for JetBlue Airways Corporation stock. Previously, the target price had yet another drop from $14 to $9, while Susquehanna kept a Neutral rating on JBLU stock. On April 27, 2022, analysts decreased their price target for JBLU shares from 24 to 12.

The Average True Range (ATR) for JetBlue Airways Corporation is set at 0.33, with the Price to Sales ratio for JBLU stock in the period of the last 12 months amounting to 0.29. The Price to Book ratio for the last quarter was 0.67, with the Price to Cash per share for the same quarter was set at 7.67. Price to Free Cash Flow for JBLU in the course of the last twelve months was 15.88 with Quick ratio for the last quarter at 0.70.

JBLU stock trade performance evaluation

JetBlue Airways Corporation [JBLU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.35. With this latest performance, JBLU shares gained by 0.85% in over the last four-week period, additionally sinking by -44.37% over the last 6 months – not to mention a drop of -51.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for JBLU stock in for the last two-week period is set at 52.02, with the RSI for the last a single of trading hit 59.73, and the three-weeks RSI is set at 48.40 for JetBlue Airways Corporation [JBLU]. The present Moving Average for the last 50 days of trading for this stock 7.57, while it was recorded at 6.97 for the last single week of trading, and 10.70 for the last 200 days.

JetBlue Airways Corporation [JBLU]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and JetBlue Airways Corporation [JBLU] shares currently have an operating margin of -15.12 and a Gross Margin at -12.09. JetBlue Airways Corporation’s Net Margin is presently recorded at -3.01.

Return on Equity for this stock declined to -4.67, with Return on Assets sitting at -1.25.

JetBlue Airways Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.

JetBlue Airways Corporation [JBLU]: Insider Ownership positions

There are presently around $1,731 million, or 77.60% of JBLU stock, in the hands of institutional investors. The top three institutional holders of JBLU stocks are: VANGUARD GROUP INC with ownership of 29,655,089, which is approximately 1.296% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 26,650,859 shares of the stock with an approximate value of $190.82 million in JBLU stocks shares; and FMR LLC, currently with $149.8 million in JBLU stock with ownership of nearly -45.765% of the company’s market capitalization.

Positions in JetBlue Airways Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 198 institutional holders increased their position in JetBlue Airways Corporation [NASDAQ:JBLU] by around 41,134,578 shares. Additionally, 178 investors decreased positions by around 47,040,280 shares, while 69 investors held positions by with 153,601,310 shares. The mentioned changes placed institutional holdings at 241,776,168 shares, according to the latest SEC report filing. JBLU stock had 51 new institutional investments in for a total of 10,132,906 shares, while 73 institutional investors sold positions of 7,146,598 shares during the same period.

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