JetBlue Airways (NASDAQ:JBLU) Raised to Neutral at JPMorgan Chase & Co.

JetBlue Airways (NASDAQ:JBLU) was upgraded by stock analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Thursday, MarketBeat Ratings reports. The firm currently has a $7.00 price objective on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 1.55% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Evercore ISI lifted their price objective on JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. UBS Group initiated coverage on JetBlue Airways in a research report on Wednesday, March 20th. They set a “sell” rating and a $5.00 price target for the company. Susquehanna upped their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Bank of America lowered shares of JetBlue Airways from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $6.00 to $3.00 in a research report on Tuesday, January 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of JetBlue Airways from a “hold” rating to a “buy” rating and increased their price target for the stock from $4.00 to $9.00 in a report on Tuesday, February 20th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, JetBlue Airways presently has a consensus rating of “Hold” and a consensus price target of $5.86.

JetBlue Airways Stock Performance

Shares of JBLU opened at $7.11 on Thursday. JetBlue Airways has a twelve month low of $3.42 and a twelve month high of $9.45. The stock has a market cap of $2.42 billion, a PE ratio of -7.56 and a beta of 1.86. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.32. The business’s 50-day moving average price is $6.94 and its 200-day moving average price is $5.61.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, January 30th. The transportation company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the firm posted $0.22 EPS. JetBlue Airways’s revenue was down 3.7% on a year-over-year basis. On average, equities analysts forecast that JetBlue Airways will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in JBLU. Raymond James & Associates boosted its stake in shares of JetBlue Airways by 162.3% in the 1st quarter. Raymond James & Associates now owns 174,219 shares of the transportation company’s stock valued at $2,605,000 after purchasing an additional 107,791 shares in the last quarter. American Century Companies Inc. raised its position in JetBlue Airways by 21.7% in the 1st quarter. American Century Companies Inc. now owns 44,471 shares of the transportation company’s stock worth $665,000 after purchasing an additional 7,941 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in JetBlue Airways by 4.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 57,508 shares of the transportation company’s stock worth $860,000 after purchasing an additional 2,320 shares during the last quarter. Natixis Advisors L.P. boosted its position in JetBlue Airways by 10.2% during the first quarter. Natixis Advisors L.P. now owns 20,552 shares of the transportation company’s stock valued at $307,000 after buying an additional 1,902 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of JetBlue Airways during the first quarter valued at about $1,117,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

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.