JetBlue Airways (NASDAQ:JBLU) Stock Price Up 4.2%

JetBlue Airways Co. (NASDAQ:JBLU) shares shot up 4.2% during mid-day trading on Thursday . The company traded as high as $7.18 and last traded at $7.12. 1,909,339 shares were traded during mid-day trading, a decline of 88% from the average session volume of 16,391,455 shares. The stock had previously closed at $6.83.

Analyst Ratings Changes

A number of brokerages have commented on JBLU. JPMorgan Chase & Co. raised shares of JetBlue Airways from an “underweight” rating to a “neutral” rating and set a $7.00 target price for the company in a report on Thursday. Evercore ISI boosted their price target on JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Barclays initiated coverage on JetBlue Airways in a research note on Wednesday, March 27th. They issued an “underweight” rating and a $6.00 price objective on the stock. Susquehanna raised their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft raised JetBlue Airways from a “hold” rating to a “buy” rating and raised their price target for the company from $4.00 to $9.00 in a report on Tuesday, February 20th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, JetBlue Airways has an average rating of “Hold” and an average target price of $5.86.

JetBlue Airways Stock Performance

The firm has a market capitalization of $2.49 billion, a PE ratio of -7.69 and a beta of 1.86. The business has a 50-day simple moving average of $6.89 and a 200-day simple moving average of $5.58. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.60 and a quick ratio of 0.57.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in JetBlue Airways by 169.8% during the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 2,377 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of JetBlue Airways during the 2nd quarter valued at $33,000. Quarry LP acquired a new stake in shares of JetBlue Airways in the 1st quarter worth $32,000. Compass Wealth Management LLC purchased a new position in JetBlue Airways during the 4th quarter worth $35,000. Finally, Performa Ltd US LLC increased its position in JetBlue Airways by 96.6% during the 3rd quarter. Performa Ltd US LLC now owns 5,700 shares of the transportation company’s stock valued at $26,000 after buying an additional 2,800 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

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.