JetBlue Airways (NASDAQ:JBLU) Trading Up 8.7% Following Analyst Upgrade

JetBlue Airways Co. (NASDAQ:JBLU) traded up 8.7% during trading on Monday after Bank of America upgraded the stock from an underperform rating to a neutral rating. Bank of America now has a $6.00 price target on the stock, up from their previous price target of $3.00. JetBlue Airways traded as high as $5.76 and last traded at $5.76. 6,959,181 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 15,111,646 shares. The stock had previously closed at $5.30.

A number of other equities research analysts have also commented on JBLU. Citigroup reduced their price target on JetBlue Airways from $6.90 to $6.50 and set a “neutral” rating on the stock in a research report on Wednesday, May 29th. TD Cowen upped their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, JetBlue Airways has an average rating of “Hold” and a consensus price target of $6.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its holdings in JetBlue Airways by 325.6% in the fourth quarter. Quadrant Capital Group LLC now owns 25,198 shares of the transportation company’s stock worth $140,000 after acquiring an additional 19,278 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in JetBlue Airways by 21.1% in the first quarter. BNP Paribas Financial Markets now owns 486,676 shares of the transportation company’s stock worth $3,611,000 after acquiring an additional 84,766 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in JetBlue Airways by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 291,021 shares of the transportation company’s stock worth $2,159,000 after acquiring an additional 4,157 shares in the last quarter. CWM LLC boosted 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 worth $224,000 after acquiring an additional 5,069 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in JetBlue Airways in the fourth quarter worth approximately $869,000. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Trading Up 1.6 %

The firm has a market cap of $2.00 billion, a P/E ratio of -2.34 and a beta of 1.91. The firm has a fifty day simple moving average of $5.53 and a 200-day simple moving average of $6.01. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50.

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