JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $7.60

JetBlue Airways (NASDAQ:JBLU) had its price target lifted by Citigroup from $6.85 to $7.60 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

JBLU has been the subject of a number of other research reports. 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. TD Cowen lifted their price target 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. Susquehanna boosted their price objective on shares of JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Barclays raised their target price on shares of JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $8.00 price target on shares of JetBlue Airways in a report on Wednesday, December 11th. Four equities research 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.55.

JetBlue Airways Trading Up 2.1 %

Shares of JBLU opened at $7.44 on Wednesday. The firm’s 50-day moving average is $6.62 and its two-hundred day moving average is $6.05. JetBlue Airways has a twelve month low of $4.49 and a twelve month high of $8.07. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98. The firm has a market capitalization of $2.58 billion, a P/E ratio of -2.95 and a beta of 1.92.

JetBlue Airways (NASDAQ:JBLU) last announced 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. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business posted ($0.39) earnings per share. On average, research analysts predict that JetBlue Airways will post -0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

A number of large investors have recently added to or reduced their stakes in JBLU. Bogart Wealth LLC increased its holdings in JetBlue Airways by 1,951.2% during the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after purchasing an additional 4,000 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of JetBlue Airways during the 3rd quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of JetBlue Airways during the second quarter worth approximately $34,000. Point72 DIFC Ltd acquired a new stake in JetBlue Airways in the second quarter valued at $48,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in JetBlue Airways during the 2nd quarter valued at $63,000. 83.71% of the stock is 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.