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

JetBlue Airways (NASDAQ:JBLU) had its price objective increased by analysts at Citigroup from $6.85 to $7.60 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Citigroup’s price target points to a potential upside of 1.88% from the company’s previous close.

Several other research analysts have also weighed in on JBLU. UBS Group reiterated a “sell” rating and set a $5.00 target price on shares of JetBlue Airways in a report on Tuesday, November 26th. Susquehanna increased their price objective on shares of JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their target price on JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group restated a “sell” rating and set a $5.50 price objective on shares of JetBlue Airways in a research note on Friday, November 15th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $8.00 target price on shares of JetBlue Airways in a research report on Wednesday, December 11th. Four equities 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’s stock. According to data from MarketBeat, JetBlue Airways presently has a consensus rating of “Hold” and a consensus price target of $6.55.

JetBlue Airways Trading Up 2.2 %

Shares of JetBlue Airways stock traded up $0.16 on Wednesday, hitting $7.46. 3,731,876 shares of the company’s stock traded hands, compared to its average volume of 15,985,355. The firm’s 50-day moving average price is $6.59 and its two-hundred day moving average price is $6.03. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18. The stock has a market capitalization of $2.59 billion, a PE ratio of -2.96 and a beta of 1.92. JetBlue Airways has a one year low of $4.49 and a one year high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company earned ($0.39) EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, research analysts expect that JetBlue Airways will post -0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

A number of large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of JetBlue Airways by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 17,878,115 shares of the transportation company’s stock worth $108,875,000 after buying an additional 521,767 shares in the last quarter. American Century Companies Inc. grew its position in shares of JetBlue Airways by 16.4% during the 2nd quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock worth $48,970,000 after buying an additional 1,135,217 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of JetBlue Airways by 13.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock valued at $37,141,000 after purchasing an additional 663,865 shares during the period. Point72 Asset Management L.P. raised 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 buying an additional 1,430,622 shares during the period. Finally, Empowered Funds LLC raised its position in shares of JetBlue Airways by 5.4% during the third quarter. Empowered Funds LLC now owns 1,289,237 shares of the transportation company’s stock worth $8,457,000 after purchasing an additional 65,660 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.