JetBlue Airways (NASDAQ:JBLU) Stock Price Up 5.3% After Analyst Upgrade

JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report) traded up 5.3% during mid-day trading on Thursday after Citigroup raised their price target on the stock from $6.85 to $7.60. Citigroup currently has a neutral rating on the stock. JetBlue Airways traded as high as $7.38 and last traded at $7.37. 7,869,340 shares were traded during trading, a decline of 51% from the average session volume of 16,015,083 shares. The stock had previously closed at $7.00.

Several other equities analysts have also recently weighed in on JBLU. Bank of America raised shares of JetBlue Airways from an "underperform" rating to a "neutral" rating and raised their target price for the company from $3.00 to $6.00 in a research note on Monday, September 9th. Evercore ISI raised 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. Morgan Stanley reaffirmed an "equal weight" rating and set a $8.00 price objective on shares of JetBlue Airways in a report on Wednesday, December 11th. UBS Group restated a "sell" rating and issued a $5.00 price target on shares of JetBlue Airways in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group reiterated a "sell" rating and set a $5.50 price objective on shares of JetBlue Airways in a research report on Friday, November 15th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, JetBlue Airways has an average rating of "Hold" and a consensus target price of $6.55.

Institutional Trading of JetBlue Airways

A number of large investors have recently modified their holdings of the company. Bogart Wealth LLC lifted its position in shares of JetBlue Airways by 1,951.2% during the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company's stock valued at $28,000 after buying an additional 4,000 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of JetBlue Airways in the 3rd quarter valued at about $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in JetBlue Airways during the second quarter valued at $34,000. Point72 DIFC Ltd acquired a new stake in JetBlue Airways in the second quarter valued at approximately $48,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of JetBlue Airways during the 2nd quarter valued at approximately $63,000. Hedge funds and other institutional investors own 83.71% of the company's stock.

JetBlue Airways Stock Up 4.1 %

The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. The business's 50 day moving average is $6.59 and its 200-day moving average is $6.03. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -2.89 and a beta of 1.92.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company posted ($0.39) EPS. JetBlue Airways's quarterly revenue was up .5% compared to the same quarter last year. On average, sell-side analysts predict that JetBlue Airways Co. will post -0.89 EPS for the current fiscal year.

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.