JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $7.00

JetBlue Airways (NASDAQ:JBLU) had its price objective increased by investment analysts at Barclays from $5.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the transportation company’s stock. Barclays‘s price objective suggests a potential downside of 0.99% from the stock’s current price.

Several other equities analysts have also issued reports on JBLU. TD Cowen boosted their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a report on Friday, September 6th. Bank of America raised JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $3.00 to $6.00 in a research note on Monday, September 9th. Citigroup lifted their price objective on JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Susquehanna boosted their price objective on JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Three 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.53.

JetBlue Airways Trading Up 1.9 %

Shares of JetBlue Airways stock traded up $0.13 during trading on Thursday, reaching $7.07. 9,676,123 shares of the company were exchanged, compared to its average volume of 15,740,683. JetBlue Airways has a twelve month low of $4.09 and a twelve month high of $8.07. The business has a 50-day moving average price of $6.40 and a 200-day moving average price of $5.89. 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 firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -2.81 and a beta of 1.92.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the business posted ($0.39) EPS. JetBlue Airways’s revenue was up .5% on a year-over-year basis. Sell-side analysts anticipate that JetBlue Airways will post -0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in JetBlue Airways in the first quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new stake in JetBlue Airways during the 2nd quarter valued at $27,000. Bogart Wealth LLC boosted its position in JetBlue Airways by 1,951.2% during the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after purchasing an additional 4,000 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of JetBlue Airways in the third quarter valued at $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of JetBlue Airways in the second quarter valued at about $34,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.