JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $5.00

JetBlue Airways (NASDAQ:JBLU) had its price target increased by Evercore ISI from $4.00 to $5.00 in a research report released on Thursday, Benzinga reports. They currently have an in-line rating on the transportation company’s stock.

Other analysts also recently issued reports about the company. TD Cowen upped their price objective on JetBlue Airways from $5.00 to $6.00 and gave the company a hold rating in a research note on Friday, September 6th. Bank of America upgraded JetBlue Airways from an underperform rating to a neutral rating and upped their price target for the stock from $3.00 to $6.00 in a research note on Monday, September 9th. Finally, Citigroup lifted their price objective on shares of JetBlue Airways from $5.75 to $6.00 and gave the company a neutral rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $5.70.

JetBlue Airways Stock Performance

Shares of JBLU opened at $7.30 on Thursday. The company’s 50 day simple moving average is $5.58 and its 200-day simple moving average is $5.93. JetBlue Airways has a 12-month low of $3.42 and a 12-month high of $7.65. The firm has a market cap of $2.48 billion, a PE ratio of -2.96 and a beta of 1.92. The company has a current ratio of 0.54, a quick ratio of 0.50 and a debt-to-equity ratio of 1.86.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.26. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm posted $0.45 EPS. JetBlue Airways’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, equities analysts predict that JetBlue Airways will post -1 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Maverick Capital Ltd. acquired a new position in shares of JetBlue Airways during the 2nd quarter worth $634,000. BNP Paribas Financial Markets boosted its holdings in JetBlue Airways by 21.1% during the first quarter. BNP Paribas Financial Markets now owns 486,676 shares of the transportation company’s stock worth $3,611,000 after buying an additional 84,766 shares in the last quarter. Texas Permanent School Fund Corp grew its position in JetBlue Airways by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 291,021 shares of the transportation company’s stock worth $2,159,000 after buying an additional 4,157 shares during the period. CWM LLC increased its holdings in JetBlue Airways by 20.2% in the first quarter. CWM LLC now owns 30,224 shares of the transportation company’s stock valued at $224,000 after buying an additional 5,069 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of JetBlue Airways during the 4th quarter valued at approximately $869,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.