Brokerages Set JetBlue Airways Co. (NASDAQ:JBLU) Price Target at $6.55

Shares of JetBlue Airways Co. (NASDAQ:JBLU) have been assigned an average rating of “Reduce” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $6.55.

JBLU has been the subject of a number of recent research reports. UBS Group reissued a “sell” rating and set a $5.00 price target on shares of JetBlue Airways in a research note on Tuesday, November 26th. Evercore ISI raised their price objective on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Morgan Stanley restated an “equal weight” rating and issued a $8.00 price target on shares of JetBlue Airways in a report on Wednesday, December 11th. Barclays increased their target price on JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a research note on Thursday, November 14th. Finally, Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $3.00 to $6.00 in a research note on Monday, September 9th.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC grew its position in shares of JetBlue Airways by 1,951.2% in the 3rd 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. Harvest Fund Management Co. Ltd bought a new position in JetBlue Airways during the third quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new position in JetBlue Airways during the second quarter worth about $34,000. Point72 DIFC Ltd acquired a new position in JetBlue Airways during the second quarter worth approximately $48,000. Finally, Glenmede Trust Co. NA acquired a new stake in shares of JetBlue Airways in the third quarter valued at approximately $66,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Price Performance

Shares of JetBlue Airways stock opened at $7.51 on Wednesday. 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 firm has a market cap of $2.61 billion, a P/E ratio of -2.98 and a beta of 1.84. JetBlue Airways has a twelve month low of $4.49 and a twelve month high of $8.28. The firm’s 50-day simple moving average is $6.72 and its 200-day simple moving average is $6.21.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business posted ($0.39) earnings per share. The company’s revenue was up .5% on a year-over-year basis. As a group, research analysts expect that JetBlue Airways will post -0.85 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.