JetBlue Airways (NASDAQ:JBLU) Hits New 1-Year High – Here’s What Happened

JetBlue Airways Co. (NASDAQ:JBLU)’s share price hit a new 52-week high on Monday . The company traded as high as $8.23 and last traded at $8.23, with a volume of 7942315 shares changing hands. The stock had previously closed at $7.80.

Wall Street Analyst Weigh In

A number of research firms recently commented on JBLU. Barclays boosted their target price on JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a research report on Thursday, November 14th. StockNews.com raised shares of JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. UBS Group restated a “sell” rating and issued a $5.00 target price on shares of JetBlue Airways in a report on Tuesday, November 26th. Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their price target for the company from $3.00 to $6.00 in a report on Monday, September 9th. Finally, Citigroup upped their price objective on JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.55.

JetBlue Airways Trading Up 3.1 %

The stock’s 50 day moving average is $6.67 and its two-hundred day moving average is $6.14. 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 market capitalization of $2.79 billion, a PE ratio of -3.19 and a beta of 1.92.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.10. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.39) EPS. As a group, sell-side analysts predict that JetBlue Airways Co. will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of JetBlue Airways by 88.2% in the third quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company’s stock worth $36,170,000 after purchasing an additional 2,584,350 shares during the last quarter. Point72 Asset Management L.P. lifted its position in JetBlue Airways by 715.3% during the second quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock valued at $9,930,000 after purchasing an additional 1,430,622 shares during the period. American Century Companies Inc. grew its position in JetBlue Airways by 16.4% during the 2nd quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock worth $48,970,000 after purchasing an additional 1,135,217 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of JetBlue Airways by 429.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,232,385 shares of the transportation company’s stock valued at $8,084,000 after buying an additional 999,713 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in JetBlue Airways during the third quarter valued at approximately $5,311,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.