JetBlue Airways (NASDAQ:JBLU) Stock Price Up 6.2% on Analyst Upgrade

JetBlue Airways Co. (NASDAQ:JBLU)’s share price rose 6.2% during trading on Thursday after Barclays raised their price target on the stock from $5.00 to $7.00. Barclays currently has an underweight rating on the stock. JetBlue Airways traded as high as $7.38 and last traded at $7.37. Approximately 2,248,994 shares were traded during trading, a decline of 86% from the average daily volume of 15,707,075 shares. The stock had previously closed at $6.94.

JBLU has been the subject of several other reports. Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $3.00 to $6.00 in a research report on Monday, September 9th. Evercore ISI upped their target price on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Susquehanna boosted their price target on JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. StockNews.com raised JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. Finally, TD Cowen lifted their target price on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.43.

Hedge Funds Weigh In On JetBlue Airways

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd bought a new position in JetBlue Airways during the 3rd quarter worth approximately $1,973,000. XTX Topco Ltd boosted its position in JetBlue Airways by 186.4% during the third quarter. XTX Topco Ltd now owns 106,910 shares of the transportation company’s stock valued at $701,000 after acquiring an additional 69,584 shares during the last quarter. Weiss Asset Management LP acquired a new stake in JetBlue Airways during the 3rd quarter worth about $1,761,000. Stifel Financial Corp raised its position in shares of JetBlue Airways by 21.4% in the 3rd quarter. Stifel Financial Corp now owns 525,024 shares of the transportation company’s stock worth $3,444,000 after acquiring an additional 92,468 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of JetBlue Airways in the 3rd quarter valued at about $1,440,000. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Trading Down 0.7 %

The company has a market cap of $2.45 billion, a P/E ratio of -2.80 and a beta of 1.92. The firm has a 50-day moving average of $6.44 and a 200 day moving average of $5.90. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company earned ($0.39) EPS. JetBlue Airways’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts predict that JetBlue Airways Co. will post -0.94 earnings per share for the current fiscal year.

JetBlue Airways Company Profile

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.