JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $7.75 at Citigroup

JetBlue Airways (NASDAQ:JBLU) had its price target hoisted by research analysts at Citigroup from $6.00 to $7.75 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Citigroup’s target price indicates a potential upside of 4.17% from the company’s current price.

A number of other research analysts have also commented on JBLU. TD Cowen upped their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Evercore ISI upped their target price on JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Susquehanna lifted their price target on JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research note on Friday, October 11th. Finally, Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $3.00 to $6.00 in a research report on Monday, September 9th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.98.

JetBlue Airways Stock Performance

NASDAQ JBLU traded down $0.12 during trading on Tuesday, reaching $7.44. 6,861,314 shares of the company’s stock were exchanged, compared to its average volume of 15,313,226. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50. The business has a 50 day moving average price of $5.87 and a 200-day moving average price of $5.92. The stock has a market capitalization of $2.53 billion, a P/E ratio of -2.99 and a beta of 1.92. JetBlue Airways has a fifty-two week low of $3.42 and a fifty-two week high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.26. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the business earned $0.45 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. Sell-side analysts forecast that JetBlue Airways will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in JetBlue Airways by 0.9% during the first quarter. Vanguard Group Inc. now owns 37,376,886 shares of the transportation company’s stock worth $277,336,000 after buying an additional 317,263 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of JetBlue Airways by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 17,878,115 shares of the transportation company’s stock worth $108,875,000 after acquiring an additional 521,767 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in shares of JetBlue Airways by 6.5% during the 1st quarter. Donald Smith & CO. Inc. now owns 13,256,094 shares of the transportation company’s stock worth $98,360,000 after acquiring an additional 805,404 shares in the last quarter. American Century Companies Inc. increased its stake in JetBlue Airways by 16.4% in 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 last quarter. Finally, Point72 Asset Management L.P. raised 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 in the last quarter. 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.