JetBlue Airways (NASDAQ:JBLU) Stock Price Up 6.2% After Analyst Upgrade

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price traded up 6.2% 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. 2,248,994 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 15,707,075 shares. The stock had previously closed at $6.94.

A number of other analysts have also recently commented on the company. Evercore ISI lifted their target price on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. Susquehanna increased their price objective on JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup lifted their target price on shares of JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, TD Cowen increased their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. boosted its stake in shares of JetBlue Airways by 715.3% during 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 acquiring an additional 1,430,622 shares in the last quarter. American Century Companies Inc. raised its holdings in JetBlue Airways by 16.4% during the second quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock worth $48,970,000 after purchasing an additional 1,135,217 shares during the last quarter. BNP Paribas Financial Markets boosted its position in JetBlue Airways by 429.7% during the third quarter. BNP Paribas Financial Markets now owns 1,232,385 shares of the transportation company’s stock worth $8,084,000 after purchasing an additional 999,713 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in JetBlue Airways in the third quarter valued at $5,311,000. Finally, Donald Smith & CO. Inc. increased 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 buying an additional 805,404 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Stock Down 0.7 %

The firm 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 current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data 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. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.39) EPS. On average, equities analysts forecast that JetBlue Airways Co. will post -0.94 EPS for the current year.

About JetBlue Airways

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.