JetBlue Airways (NASDAQ:JBLU) Trading 8.1% Higher

Shares of JetBlue Airways Co. (NASDAQ:JBLU) rose 8.1% on Wednesday . The company traded as high as $6.10 and last traded at $6.04. Approximately 11,531,065 shares changed hands during trading, a decline of 20% from the average daily volume of 14,436,730 shares. The stock had previously closed at $5.59.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of JetBlue Airways from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Monday, May 6th. TD Cowen upped their price objective on shares of JetBlue Airways from $4.00 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price objective on JetBlue Airways from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Finally, Citigroup reduced their target price on JetBlue Airways from $6.90 to $6.50 and set a “neutral” rating for the company in a report on Wednesday, May 29th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.75.

JetBlue Airways Price Performance

The business has a 50-day simple moving average of $5.83 and a two-hundred day simple moving average of $6.18. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -2.44 and a beta of 1.93. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.51 and a current ratio of 0.54.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.26. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, equities analysts predict that JetBlue Airways Co. will post -1.11 EPS for the current year.

Institutional Trading of JetBlue Airways

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its position in JetBlue Airways by 6.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 200,298 shares of the transportation company’s stock valued at $1,112,000 after purchasing an additional 12,568 shares during the period. International Assets Investment Management LLC grew its holdings in JetBlue Airways by 521.4% during the fourth quarter. International Assets Investment Management LLC now owns 142,885 shares of the transportation company’s stock worth $793,000 after acquiring an additional 119,890 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in JetBlue Airways during the fourth quarter worth $121,000. Nisa Investment Advisors LLC raised its position in JetBlue Airways by 8,576.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 43,380 shares of the transportation company’s stock worth $241,000 after acquiring an additional 42,880 shares in the last quarter. Finally, HBK Sorce Advisory LLC acquired a new stake in JetBlue Airways in the fourth quarter valued at $58,000. Hedge funds and other 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.