JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $6.00 at TD Cowen

JetBlue Airways (NASDAQ:JBLU) had its target price increased by TD Cowen from $5.00 to $6.00 in a research note released on Friday, Marketbeat.com reports. TD Cowen currently has a hold rating on the transportation company’s stock.

Separately, Citigroup reduced their target price on shares of JetBlue Airways from $6.90 to $6.50 and set a neutral rating on the stock in a research report on Wednesday, May 29th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $6.05.

JetBlue Airways Stock Performance

Shares of JetBlue Airways stock opened at $5.68 on Friday. 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 stock’s fifty day moving average is $5.53 and its two-hundred day moving average is $6.02. JetBlue Airways has a 52 week low of $3.42 and a 52 week high of $7.58. The company has a market capitalization of $1.97 billion, a PE ratio of -2.30 and a beta of 1.91.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.26. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.40 billion. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. As a group, analysts expect that JetBlue Airways will post -1.1 earnings per share for the current year.

Hedge Funds Weigh In On JetBlue Airways

A number of large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. increased 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 valued at $9,930,000 after acquiring an additional 1,430,622 shares during the period. American Century Companies Inc. boosted its position 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 valued at $48,970,000 after purchasing an additional 1,135,217 shares in the last quarter. Allianz Asset Management GmbH boosted its position in JetBlue Airways by 70.2% during the fourth quarter. Allianz Asset Management GmbH now owns 2,366,548 shares of the transportation company’s stock valued at $13,134,000 after purchasing an additional 975,736 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in 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 purchasing an additional 805,404 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in JetBlue Airways by 1,932.3% in the second quarter. Quantbot Technologies LP now owns 588,893 shares of the transportation company’s stock worth $3,586,000 after purchasing an additional 559,917 shares in the last quarter. 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.