JetBlue Airways (NASDAQ:JBLU) Upgraded by Citigroup to “Neutral” Rating

Citigroup upgraded shares of JetBlue Airways (NASDAQ:JBLU) from a sell rating to a neutral rating in a report published on Tuesday morning, Marketbeat.com reports. Citigroup currently has $6.00 price objective on the transportation company’s stock.

Several other analysts also recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Thursday, January 22nd. Evercore ISI upped their target price on JetBlue Airways from $5.00 to $6.00 and gave the company an “in-line” rating in a research report on Thursday, January 29th. TD Cowen raised their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. upped their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Finally, Susquehanna increased their price objective on shares of JetBlue Airways from $4.55 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Eight investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $5.27.

JetBlue Airways Stock Performance

Shares of JetBlue Airways stock opened at $5.57 on Tuesday. The company has a 50 day moving average price of $4.90 and a 200 day moving average price of $4.78. The firm has a market capitalization of $2.03 billion, a P/E ratio of -3.34 and a beta of 1.78. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 3.42. JetBlue Airways has a 52 week low of $3.34 and a 52 week high of $7.83.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 24.93%. During the same quarter in the previous year, the company posted ($0.21) EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Sell-side analysts expect that JetBlue Airways will post -0.69 EPS for the current year.

Institutional Trading of JetBlue Airways

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in JetBlue Airways by 131.2% during the first quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company’s stock valued at $436,000 after buying an additional 51,377 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of JetBlue Airways by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company’s stock valued at $896,000 after acquiring an additional 8,053 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of JetBlue Airways by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company’s stock valued at $23,085,000 after purchasing an additional 274,892 shares in the last quarter. United Services Automobile Association acquired a new position in JetBlue Airways in the 1st quarter worth about $106,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in JetBlue Airways during the second quarter worth approximately $47,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

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.