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

JetBlue Airways Corporation [NASDAQ: JBLU] loss -1.59% on the last trading session, reaching $6.81 price per share at the time. The company report on March 17, 2023 that JetBlue Announces Record and Payment Dates for March 2023 Additional Prepayment to Spirit Stockholders.

As previously announced, in connection with the Agreement and Plan of Merger, dated as of July 28, 2022 (the “Merger Agreement”), by and among JetBlue Airways Corporation (“JetBlue”) (NASDAQ: JBLU), Sundown Acquisition Corp., and Spirit Airlines, Inc. (“Spirit”) (NYSE: SAVE), JetBlue has set March 27, 2023, as the record date for the March 2023 prepayment to Spirit stockholders of $0.10 per Spirit share (the “March 2023 Additional Prepayment”), with payment of the March 2023 Additional Prepayment to occur on March 31, 2023. Pursuant to the Merger Agreement, Spirit stockholders as of the March 27, 2023, record date will be entitled to receive the March 2023 Additional Prepayment.

JetBlue Airways Corporation represents 326.90 million in outstanding shares, while the company has a total market value of $2.29 billion with the latest information. JBLU stock price has been found in the range of $6.80 to $7.015.

If compared to the average trading volume of 8.83M shares, JBLU reached a trading volume of 6812490 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $8.75 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.

Cowen have made an estimate for JetBlue Airways Corporation shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on December 15, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on December 05, 2022, representing the official price target for JetBlue Airways Corporation stock. Previously, the target price had yet another raise to $10, while BofA Securities analysts kept a Neutral rating on JBLU stock.

The Average True Range (ATR) for JetBlue Airways Corporation is set at 0.34, with the Price to Sales ratio for JBLU stock in the period of the last 12 months amounting to 0.25. The Price to Book ratio for the last quarter was 0.62, with the Price to Cash per share for the same quarter was set at 4.15. Price to Free Cash Flow for JBLU in the course of the last twelve months was 10.25 with Quick ratio for the last quarter at 0.50.

Trading performance analysis for JBLU stock

JetBlue Airways Corporation [JBLU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.95. With this latest performance, JBLU shares dropped by -21.09% in over the last four-week period, additionally sinking by -14.02% over the last 6 months – not to mention a drop of -52.58% 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 28.51, with the RSI for the last a single of trading hit 22.67, and the three-weeks RSI is set at 33.99 for JetBlue Airways Corporation [JBLU]. The present Moving Average for the last 50 days of trading for this stock 8.13, while it was recorded at 6.98 for the last single week of trading, and 7.96 for the last 200 days.

JetBlue Airways Corporation [JBLU]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and JetBlue Airways Corporation [JBLU] shares currently have an operating margin of -1.94 and a Gross Margin at +1.21. JetBlue Airways Corporation’s Net Margin is presently recorded at -3.95.

Return on Equity for this stock declined to -9.77, with Return on Assets sitting at -2.47.

JetBlue Airways Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

An analysis of insider ownership at JetBlue Airways Corporation [JBLU]

There are presently around $1,534 million, or 69.50% of JBLU stock, in the hands of institutional investors. The top three institutional holders of JBLU stocks are: VANGUARD GROUP INC with ownership of 31,605,973, which is approximately 3.765% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 28,864,683 shares of the stock with an approximate value of $196.57 million in JBLU stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $97.12 million in JBLU stock with ownership of nearly 0.766% of the company’s market capitalization.

Positions in JetBlue Airways Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 180 institutional holders increased their position in JetBlue Airways Corporation [NASDAQ:JBLU] by around 27,149,490 shares. Additionally, 169 investors decreased positions by around 19,215,560 shares, while 66 investors held positions by with 178,868,485 shares. The mentioned changes placed institutional holdings at 225,233,535 shares, according to the latest SEC report filing. JBLU stock had 65 new institutional investments in for a total of 4,476,908 shares, while 46 institutional investors sold positions of 5,395,315 shares during the same period.