JetBlue Airways (NASDAQ:JBLU) Trading Up 6.5% – What’s Next?

by · The Markets Daily

JetBlue Airways Co. (NASDAQ:JBLU – Get Free Report)’s stock price shot up 6.5% during mid-day trading on Tuesday . The company traded as high as $8.04 and last traded at $8.14. 6,079,998 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 15,301,163 shares. The stock had previously closed at $7.64.

Analyst Ratings Changes

Several equities research analysts recently weighed in on JBLU shares. Barclays increased their price target on JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Thursday, November 14th. The Goldman Sachs Group restated a “sell” rating and issued a $5.50 target price on shares of JetBlue Airways in a research note on Friday, November 15th. Bank of America reiterated an “underperform” rating and set a $6.50 price target on shares of JetBlue Airways in a research note on Friday. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a research report on Thursday, November 7th. Finally, UBS Group reiterated a “sell” rating and set a $5.00 target price on shares of JetBlue Airways in a research report on Tuesday, November 26th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.69.

Check Out Our Latest Research Report on JetBlue Airways

JetBlue Airways Stock Performance

The firm has a fifty day moving average of $7.06 and a 200-day moving average of $6.36. 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 stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -3.18 and a beta of 1.84.

JetBlue Airways (NASDAQ:JBLU – Get Free Report) last released its quarterly 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. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company posted ($0.39) EPS. The business’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts anticipate that JetBlue Airways Co. will post -0.85 EPS for the current year.

Institutional Trading of JetBlue Airways

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in JetBlue Airways by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 17,878,115 shares of the transportation company’s stock valued at $108,875,000 after purchasing an additional 521,767 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of JetBlue Airways by 13.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock valued at $37,141,000 after buying an additional 663,865 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of JetBlue Airways by 88.2% during the third quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company’s stock valued at $36,170,000 after buying an additional 2,584,350 shares during the period. Point72 Asset Management L.P. boosted 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 worth $9,930,000 after acquiring an additional 1,430,622 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in JetBlue Airways by 5,648.9% in the 4th quarter. SG Americas Securities LLC now owns 1,470,062 shares of the transportation company’s stock worth $11,555,000 after acquiring an additional 1,444,491 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

About JetBlue Airways

(Get Free Report)

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.

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