JetBlue Airways (NASDAQ:JBLU) PT Raised to $7.00

JetBlue Airways (NASDAQ:JBLU) had its price target increased by equities research analysts at Susquehanna from $6.00 to $7.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s target price would indicate a potential upside of 2.94% from the company’s current price.

A number of other research firms have also recently weighed in on JBLU. TD Cowen increased their price target on JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and raised their target price for the company from $3.00 to $6.00 in a report on Monday, September 9th. Citigroup raised their target price on JetBlue Airways from $5.75 to $6.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Evercore ISI raised their target price on JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.80.

JetBlue Airways Stock Down 2.3 %

Shares of NASDAQ:JBLU opened at $6.80 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.54 and a debt-to-equity ratio of 1.86. The business has a fifty day moving average of $5.64 and a two-hundred day moving average of $5.93. The stock has a market cap of $2.31 billion, a P/E ratio of -2.75 and a beta of 1.92. JetBlue Airways has a 52-week low of $3.42 and a 52-week high of $7.65.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.26. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.40 billion. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 EPS. On average, research analysts expect that JetBlue Airways will post -1 earnings per share for the current year.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Smith Anglin Financial LLC raised its position in shares of JetBlue Airways by 14.6% during the 3rd quarter. Smith Anglin Financial LLC now owns 13,839 shares of the transportation company’s stock worth $91,000 after acquiring an additional 1,763 shares in the last quarter. Sage Rhino Capital LLC raised its position in shares of JetBlue Airways by 9.9% during the 2nd quarter. Sage Rhino Capital LLC now owns 19,834 shares of the transportation company’s stock worth $121,000 after acquiring an additional 1,788 shares in the last quarter. PDS Planning Inc raised its position in shares of JetBlue Airways by 18.2% during the 1st quarter. PDS Planning Inc now owns 13,947 shares of the transportation company’s stock worth $103,000 after acquiring an additional 2,148 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of JetBlue Airways by 3.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 58,330 shares of the transportation company’s stock worth $324,000 after acquiring an additional 2,178 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of JetBlue Airways by 169.8% during the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after acquiring an additional 2,377 shares in the last quarter. Institutional investors and hedge funds 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.