JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $7.60

JetBlue Airways (NASDAQ:JBLU) had its price target lifted by equities research analysts at Citigroup from $6.85 to $7.60 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Citigroup’s price target indicates a potential upside of 4.25% from the stock’s current price.

A number of other research firms have also recently commented on JBLU. Morgan Stanley reiterated an “equal weight” rating and set a $8.00 price objective on shares of JetBlue Airways in a research report on Wednesday, December 11th. Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and upped their price target for the company from $3.00 to $6.00 in a research report on Monday, September 9th. The Goldman Sachs Group reissued a “sell” rating and issued a $5.50 price objective on shares of JetBlue Airways in a report on Friday, November 15th. Susquehanna upped their target price 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. Finally, TD Cowen increased their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, JetBlue Airways has an average rating of “Hold” and an average price target of $6.55.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $7.29 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 2.98. The company has a 50 day moving average price of $6.60 and a 200-day moving average price of $6.04. JetBlue Airways has a 52 week low of $4.49 and a 52 week high of $8.07. 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 issued its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.10. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company posted ($0.39) earnings per share. As a group, equities research analysts expect that JetBlue Airways will post -0.89 earnings per share for the current year.

Institutional Trading of JetBlue Airways

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. lifted its stake in shares of JetBlue Airways by 715.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock valued at $9,930,000 after buying an additional 1,430,622 shares in the last quarter. American Century Companies Inc. raised its holdings in JetBlue Airways by 16.4% during the second quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock valued at $48,970,000 after acquiring an additional 1,135,217 shares during the period. BNP Paribas Financial Markets lifted its position in shares of JetBlue Airways by 429.7% in the third quarter. BNP Paribas Financial Markets now owns 1,232,385 shares of the transportation company’s stock valued at $8,084,000 after acquiring an additional 999,713 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of JetBlue Airways in the third quarter worth about $5,311,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of JetBlue Airways by 13.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock worth $37,141,000 after purchasing an additional 663,865 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

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.