JetBlue Airways (NASDAQ:JBLU) Trading 5.3% Higher on Analyst Upgrade

JetBlue Airways Co. (NASDAQ:JBLU) rose 5.3% 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 were traded during mid-day trading, a decline of 51% from the average daily volume of 16,015,083 shares. The stock had previously closed at $7.00.

JBLU has been the subject of several other reports. Barclays upped their target price on JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a research note on Thursday, November 14th. Susquehanna increased their price objective on shares of JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. TD Cowen boosted their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Evercore ISI raised their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Finally, Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $3.00 to $6.00 in a research note on Monday, September 9th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.55.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in shares of JetBlue Airways in the 3rd quarter valued at approximately $307,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of JetBlue Airways during the 3rd quarter worth about $1,973,000. XTX Topco Ltd raised its holdings in JetBlue Airways by 186.4% in the 3rd quarter. XTX Topco Ltd now owns 106,910 shares of the transportation company’s stock valued at $701,000 after buying an additional 69,584 shares during the period. Weiss Asset Management LP purchased a new position in JetBlue Airways during the third quarter worth about $1,761,000. Finally, Stifel Financial Corp increased its position in shares of JetBlue Airways by 21.4% during the third quarter. Stifel Financial Corp now owns 525,024 shares of the transportation company’s stock valued at $3,444,000 after acquiring an additional 92,468 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Stock Up 4.1 %

The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. The business’s 50 day moving average price is $6.60 and its 200-day moving average price is $6.04. The firm has a market capitalization of $2.53 billion, a PE ratio of -2.89 and a beta of 1.92.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the business posted ($0.39) earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, equities research analysts forecast that JetBlue Airways Co. will post -0.89 earnings per share 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.