JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $7.60

by · The Markets Daily

JetBlue Airways (NASDAQ:JBLU – Free Report) had its price target hoisted by Citigroup from $6.85 to $7.60 in a research note issued to investors on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the transportation company’s stock.

JBLU has been the topic of a number of other reports. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $3.00 to $6.00 in a research report on Monday, September 9th. Barclays raised their target price on JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a research note on Thursday, November 14th. TD Cowen upped their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Evercore ISI lifted their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Finally, Susquehanna upped their target price on shares of JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.55.

View Our Latest Research Report on JetBlue Airways

JetBlue Airways Stock Performance

JBLU stock opened at $7.44 on Wednesday. The firm has a market cap of $2.58 billion, a P/E ratio of -2.95 and a beta of 1.92. The stock’s 50 day simple moving average is $6.62 and its 200 day simple moving average is $6.05. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98. JetBlue Airways has a 12-month low of $4.49 and a 12-month high of $8.07.

JetBlue Airways (NASDAQ:JBLU – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm posted ($0.39) EPS. As a group, equities research analysts predict that JetBlue Airways will post -0.89 EPS for the current year.

Institutional Trading of JetBlue Airways

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. raised its holdings in shares of JetBlue Airways by 715.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock worth $9,930,000 after purchasing an additional 1,430,622 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of 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 buying an additional 1,135,217 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of JetBlue Airways by 429.7% during 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 acquiring an additional 999,713 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of JetBlue Airways during the 3rd quarter worth $5,311,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of JetBlue Airways by 13.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock worth $37,141,000 after acquiring an additional 663,865 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

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.

See Also