JetBlue Airways (NASDAQ:JBLU) Upgraded to “Neutral” at Bank of America

JetBlue Airways (NASDAQ:JBLU) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “neutral” rating in a report released on Monday, MarketBeat reports. The firm presently has a $6.00 target price on the transportation company’s stock, up from their prior target price of $3.00. Bank of America‘s price objective points to a potential upside of 3.99% from the stock’s previous close.

Several other equities analysts also recently issued reports on JBLU. TD Cowen boosted their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Citigroup reduced their price target on shares of JetBlue Airways from $6.90 to $6.50 and set a “neutral” rating for the company in a research note on Wednesday, May 29th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.05.

JetBlue Airways Stock Up 1.6 %

Shares of JetBlue Airways stock opened at $5.77 on Monday. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -2.34 and a beta of 1.91. JetBlue Airways has a twelve month low of $3.42 and a twelve month high of $7.58. The company has a current ratio of 0.54, a quick ratio of 0.50 and a debt-to-equity ratio of 1.86. The business’s 50 day simple moving average is $5.53 and its 200-day simple moving average is $6.01.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.26. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.40 billion. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. Equities research analysts forecast that JetBlue Airways will post -1.1 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in JetBlue Airways during the 1st quarter valued at about $25,000. Trust Co. of Vermont acquired a new position in JetBlue Airways in the 2nd quarter valued at approximately $27,000. GAMMA Investing LLC increased its stake in shares of JetBlue Airways by 169.8% in the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after acquiring an additional 2,377 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in JetBlue Airways during the first quarter valued at $30,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in JetBlue Airways in the 2nd quarter worth about $34,000. 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.