JetBlue Airways (NASDAQ:JBLU) Upgraded to “Outperform” at Raymond James

JetBlue Airways (NASDAQ:JBLU) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued on Monday,Finviz reports. The brokerage currently has a $5.00 target price on the transportation company’s stock. Raymond James’ price target suggests a potential upside of 26.90% from the stock’s current price.

Several other research analysts have also issued reports on JBLU. Seaport Res Ptn lowered JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Bank of America lowered their price objective on JetBlue Airways from $5.25 to $4.25 and set an “underperform” rating for the company in a research report on Thursday. Citigroup upped their target price on JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Susquehanna lowered their price target on shares of JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $8.00 price objective on shares of JetBlue Airways in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.03.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $3.94 on Monday. The business’s 50-day moving average price is $6.07 and its 200-day moving average price is $6.61. JetBlue Airways has a 12 month low of $3.62 and a 12 month high of $8.31. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -1.68 and a beta of 1.69.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same quarter last year, the business posted ($0.19) EPS. Equities research analysts forecast that JetBlue Airways will post -0.69 EPS for the current year.

Insider Activity at JetBlue Airways

In other news, Director Nik Mittal bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average cost of $6.14 per share, with a total value of $614,000.00. Following the transaction, the director now directly owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. This represents a 608.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ursula L. Hurley sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total value of $112,500.00. Following the transaction, the chief financial officer now directly owns 41,833 shares in the company, valued at approximately $313,747.50. This trade represents a 26.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds and other institutional investors have recently modified their holdings of JBLU. Entropy Technologies LP bought a new position in shares of JetBlue Airways in the 4th quarter worth $787,000. Raymond James Financial Inc. bought a new position in shares of JetBlue Airways in the fourth quarter valued at $1,796,000. Intech Investment Management LLC grew its holdings in shares of JetBlue Airways by 71.7% during the fourth quarter. Intech Investment Management LLC now owns 119,072 shares of the transportation company’s stock valued at $936,000 after buying an additional 49,712 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of JetBlue Airways by 8.3% during the fourth quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company’s stock valued at $10,977,000 after buying an additional 107,293 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of JetBlue Airways in the 4th quarter worth about $432,000. Institutional investors 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.