JetBlue Airways (NASDAQ:JBLU) Stock Price Up 5.3% on Analyst Upgrade

JetBlue Airways Co. (NASDAQ:JBLU) rose 5.3% during mid-day trading on Thursday after Citigroup raised their price target on the stock from $6.85 to $7.60. Citigroup currently has a neutral rating on the stock. JetBlue Airways traded as high as $7.38 and last traded at $7.37. Approximately 7,869,340 shares changed hands during trading, a decline of 51% from the average daily volume of 16,015,083 shares. The stock had previously closed at $7.00.

Several other research analysts have also recently weighed in on the company. UBS Group restated a “sell” rating and set a $5.00 target price on shares of JetBlue Airways in a report on Tuesday, November 26th. Barclays lifted their price target on JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Thursday, November 14th. Susquehanna raised their price objective on shares of JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley restated an “equal weight” rating and set a $8.00 price target on shares of JetBlue Airways in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $5.50 price objective on shares of JetBlue Airways in a research report on Friday, November 15th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.55.

Institutional Trading of JetBlue Airways

Several hedge funds have recently modified their holdings of the stock. Bogart Wealth LLC raised its holdings in JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 4,000 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of JetBlue Airways during the 3rd quarter worth $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of JetBlue Airways during the second quarter worth $34,000. Point72 DIFC Ltd purchased a new position in JetBlue Airways in the second quarter valued at $48,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in JetBlue Airways during the 2nd quarter worth about $63,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Trading Up 5.3 %

The business has a fifty day moving average price of $6.59 and a 200 day moving average price of $6.03. The firm has a market cap of $2.56 billion, a PE ratio of -2.92 and a beta of 1.92. 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 return on equity of 8.35% and a negative net margin of 9.17%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted ($0.39) earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts forecast that JetBlue Airways Co. will post -0.89 EPS for the current 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.