JetBlue Airways (NASDAQ:JBLU) Sets New 1-Year High After Analyst Upgrade

Shares of JetBlue Airways Co. (NASDAQ:JBLU) reached a new 52-week high during mid-day trading on Friday after Evercore ISI raised their price target on the stock from $4.00 to $5.00. Evercore ISI currently has an in-line rating on the stock. JetBlue Airways traded as high as $7.65 and last traded at $7.35, with a volume of 9908202 shares. The stock had previously closed at $6.39.

JBLU has been the subject of several other reports. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $3.00 to $6.00 in a research report on Monday, September 9th. TD Cowen upped their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Finally, Citigroup raised their price target on shares of JetBlue Airways from $5.75 to $6.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, JetBlue Airways currently has an average rating of “Hold” and a consensus price target of $5.70.

Hedge Funds Weigh In On JetBlue Airways

A number of institutional investors have recently bought and sold shares of JBLU. Allspring Global Investments Holdings LLC purchased a new stake in shares of JetBlue Airways in the 1st quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new position in JetBlue Airways in the second quarter valued at approximately $27,000. GAMMA Investing LLC grew its position in JetBlue Airways by 169.8% in the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after acquiring an additional 2,377 shares during the period. YHB Investment Advisors Inc. acquired a new stake in JetBlue Airways during the first quarter worth $30,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in JetBlue Airways in the second quarter valued at $34,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Trading Up 16.0 %

The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -3.03 and a beta of 1.90. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.50 and a current ratio of 0.54. The company has a 50 day moving average price of $5.56 and a 200 day moving average price of $5.93.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.26. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.40 billion. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. JetBlue Airways’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, research analysts expect that JetBlue Airways Co. will post -1 earnings per share for the current year.

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.