JetBlue Airways (NASDAQ:JBLU) Shares Gap Up - Still a Buy?

JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $5.52, but opened at $5.72. JetBlue Airways shares last traded at $5.87, with a volume of 4,604,999 shares traded.

Analyst Upgrades and Downgrades

JBLU has been the topic of a number of analyst reports. Citigroup increased 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. Bank of America reaffirmed an "underperform" rating and issued a $6.50 target price on shares of JetBlue Airways in a research report on Friday, January 17th. Susquehanna cut their target price on shares of JetBlue Airways from $8.00 to $6.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. The Goldman Sachs Group reiterated a "sell" rating and set a $5.50 price objective on shares of JetBlue Airways in a research note on Friday, November 15th. Finally, Barclays increased their price target on JetBlue Airways from $5.00 to $7.00 and gave the company an "underweight" rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $6.33.

JetBlue Airways Stock Up 5.0 %

The firm has a 50-day moving average price of $7.00 and a 200 day moving average price of $6.62. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -2.47 and a beta of 1.80. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.10 and a quick ratio of 1.18.

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JetBlue Airways (NASDAQ:JBLU - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, beating analysts' consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same period in the prior year, the firm earned ($0.19) earnings per share. Sell-side analysts predict that JetBlue Airways Co. will post -0.69 EPS for the current year.

Insider Activity at JetBlue Airways

In other JetBlue Airways news, CFO Ursula L. Hurley sold 15,000 shares of the firm's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 41,833 shares of the company's stock, valued at $313,747.50. This trade represents a 26.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Nik Mittal purchased 100,000 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average price of $6.14 per share, for a total transaction of $614,000.00. Following the completion of the purchase, the director now directly owns 116,443 shares in the company, valued at $714,960.02. This represents a 608.16 % increase in their position. The disclosure for this purchase can be found here. 1.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc grew its holdings in JetBlue Airways by 6.4% in the 4th quarter. CIBC Asset Management Inc now owns 30,416 shares of the transportation company's stock worth $239,000 after acquiring an additional 1,823 shares during the last quarter. Jeppson Wealth Management LLC grew its stake in shares of JetBlue Airways by 15.7% in the third quarter. Jeppson Wealth Management LLC now owns 13,650 shares of the transportation company's stock worth $90,000 after purchasing an additional 1,850 shares during the last quarter. Xponance Inc. raised its position in JetBlue Airways by 10.2% during the 4th quarter. Xponance Inc. now owns 22,613 shares of the transportation company's stock valued at $178,000 after purchasing an additional 2,095 shares during the last quarter. Vident Advisory LLC raised its position in JetBlue Airways by 10.9% during the 4th quarter. Vident Advisory LLC now owns 23,181 shares of the transportation company's stock valued at $182,000 after purchasing an additional 2,284 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company's stock worth $35,000 after buying an additional 2,538 shares during the period. 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.

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