Evercore ISI Raises JetBlue Airways (NASDAQ:JBLU) Price Target to $5.00

JetBlue Airways (NASDAQ:JBLU) had its price objective raised by Evercore ISI from $4.00 to $5.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an in-line rating on the transportation company’s stock.

Other research analysts have also recently issued reports about the company. Bank of America upgraded JetBlue Airways from an underperform rating to a neutral rating and boosted their target price for the stock from $3.00 to $6.00 in a report on Monday, September 9th. TD Cowen boosted their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock a hold rating in a research note on Friday, September 6th. Finally, Citigroup raised their target price on JetBlue Airways from $5.75 to $6.00 and gave the stock a neutral rating in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $5.70.

JetBlue Airways Stock Performance

Shares of NASDAQ:JBLU opened at $7.30 on Thursday. The business’s 50 day moving average price is $5.58 and its 200-day moving average price is $5.92. JetBlue Airways has a 1 year low of $3.42 and a 1 year high of $7.65. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50. The firm has a market capitalization of $2.48 billion, a PE ratio of -2.96 and a beta of 1.92.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.26. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.40 billion. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The company’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 firm earned $0.45 earnings per share. As a group, equities research analysts expect that JetBlue Airways will post -1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of JetBlue Airways during the 3rd quarter worth approximately $168,000. Point72 DIFC Ltd purchased a new position in shares of JetBlue Airways during the second quarter worth $48,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of JetBlue Airways by 218.9% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 23,109 shares of the transportation company’s stock valued at $141,000 after buying an additional 15,862 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of JetBlue Airways in the 2nd quarter valued at $34,000. Finally, Point72 Asset Management L.P. lifted its stake in JetBlue Airways by 715.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock worth $9,930,000 after acquiring an additional 1,430,622 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.