Citigroup Boosts JetBlue Airways (NASDAQ:JBLU) Price Target to $7.75

JetBlue Airways (NASDAQ:JBLU) had its price target raised by Citigroup from $6.00 to $7.75 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

A number of other equities analysts also recently commented on JBLU. TD Cowen increased their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, September 6th. StockNews.com upgraded JetBlue Airways to a “sell” rating in a report on Friday, October 11th. Evercore ISI increased their price target on JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their price target for the company from $3.00 to $6.00 in a report on Monday, September 9th. Finally, Susquehanna increased their price target on JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.98.

JetBlue Airways Price Performance

Shares of JBLU opened at $6.99 on Tuesday. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -2.83 and a beta of 1.92. JetBlue Airways has a fifty-two week low of $3.42 and a fifty-two week high of $8.07. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50. The business’s 50-day moving average is $6.02 and its 200-day moving average is $5.94.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.26. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. Equities research analysts expect that JetBlue Airways will post -0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new stake in shares of JetBlue Airways in the third quarter valued at approximately $5,311,000. Bogart Wealth LLC boosted its position in shares of JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 4,000 shares during the period. International Assets Investment Management LLC boosted its position in shares of JetBlue Airways by 397.9% in the third quarter. International Assets Investment Management LLC now owns 82,623 shares of the transportation company’s stock valued at $542,000 after acquiring an additional 66,028 shares during the period. Jade Capital Advisors LLC boosted its position in shares of JetBlue Airways by 800.0% in the third quarter. Jade Capital Advisors LLC now owns 450,000 shares of the transportation company’s stock valued at $2,952,000 after acquiring an additional 400,000 shares during the period. Finally, Resonant Capital Advisors LLC bought a new stake in shares of JetBlue Airways in the third quarter valued at approximately $67,000. 83.71% of the stock is owned by institutional investors.

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.