JetBlue Airways (NASDAQ:JBLU) Trading Up 7.3% on Analyst Upgrade

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) were up 7.3% during trading on Tuesday after Citigroup upgraded the stock from a sell rating to a neutral rating. Citigroup now has a $6.00 price target on the stock. JetBlue Airways traded as high as $5.62 and last traded at $5.6550. Approximately 4,271,599 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 20,945,316 shares. The stock had previously closed at $5.27.

Several other research analysts also recently commented on JBLU. Morgan Stanley cut their price target on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, December 8th. The Goldman Sachs Group increased their price objective on JetBlue Airways from $3.50 to $4.00 and gave the stock a “sell” rating in a research report on Tuesday, January 13th. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Thursday, January 22nd. JPMorgan Chase & Co. upped their target price on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Finally, Susquehanna lifted their price target on JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a research report on Friday, January 9th. Eight equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, JetBlue Airways has a consensus rating of “Reduce” and an average target price of $5.27.

Hedge Funds Weigh In On JetBlue Airways

A number of large investors have recently modified their holdings of the company. Par Capital Management Inc. boosted its stake in JetBlue Airways by 105.3% in the second quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock worth $23,212,000 after buying an additional 2,814,870 shares in the last quarter. Prentice Capital Management LP lifted its holdings in shares of JetBlue Airways by 210.4% in the 3rd quarter. Prentice Capital Management LP now owns 2,276,428 shares of the transportation company’s stock worth $11,200,000 after acquiring an additional 1,542,959 shares during the last quarter. U S Global Investors Inc. boosted its stake in shares of JetBlue Airways by 25.2% in the 2nd quarter. U S Global Investors Inc. now owns 5,021,419 shares of the transportation company’s stock valued at $21,241,000 after purchasing an additional 1,011,279 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of JetBlue Airways by 154.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,660,015 shares of the transportation company’s stock valued at $7,022,000 after purchasing an additional 1,006,850 shares during the last quarter. Finally, ING Groep NV purchased a new position in JetBlue Airways in the 3rd quarter worth $4,920,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Stock Performance

The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.77 and a current ratio of 0.82. The company has a market cap of $2.03 billion, a PE ratio of -3.34 and a beta of 1.78. The business’s 50-day moving average is $4.90 and its 200 day moving average is $4.78.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, January 27th. The transportation company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.04). JetBlue Airways had a negative return on equity of 24.93% and a negative net margin of 6.64%.The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the firm posted ($0.21) EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts predict that JetBlue Airways Corporation will post -0.69 EPS for the current fiscal year.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.