JetBlue Airways (NASDAQ:JBLU) Trading 6.2% Higher on Analyst Upgrade

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price was up 6.2% during trading on Thursday after Barclays raised their price target on the stock from $5.00 to $7.00. Barclays currently has an underweight rating on the stock. JetBlue Airways traded as high as $7.38 and last traded at $7.37. Approximately 2,248,994 shares traded hands during trading, a decline of 86% from the average daily volume of 15,707,075 shares. The stock had previously closed at $6.94.

Other equities research analysts have also issued reports about the stock. Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $3.00 to $6.00 in a research note on Monday, September 9th. Citigroup lifted their target price on JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen increased their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, September 6th. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. Finally, Susquehanna upped their price objective on JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, JetBlue Airways has a consensus rating of “Hold” and a consensus target price of $6.43.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds have recently added to or reduced their stakes in JBLU. Allspring Global Investments Holdings LLC bought a new position in shares of JetBlue Airways in the first quarter valued at about $25,000. ProShare Advisors LLC raised its holdings in JetBlue Airways by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 67,717 shares of the transportation company’s stock valued at $502,000 after acquiring an additional 4,663 shares during the period. State Board of Administration of Florida Retirement System lifted its position in JetBlue Airways by 208.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 391,614 shares of the transportation company’s stock worth $2,851,000 after acquiring an additional 264,460 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 317,263 shares during the period. Finally, Donald Smith & CO. Inc. grew its position in shares of JetBlue Airways by 6.5% in the first quarter. Donald Smith & CO. Inc. now owns 13,256,094 shares of the transportation company’s stock valued at $98,360,000 after purchasing an additional 805,404 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Stock Down 0.7 %

The company has a market cap of $2.45 billion, a price-to-earnings ratio of -2.80 and a beta of 1.92. The firm has a 50-day moving average price of $6.44 and a 200 day moving average price of $5.90. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data 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 firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the firm posted ($0.39) EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts predict that JetBlue Airways Co. will post -0.94 EPS 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.