TD Cowen Boosts JetBlue Airways (NASDAQ:JBLU) Price Target to $6.00

JetBlue Airways (NASDAQ:JBLU) had its price target raised by TD Cowen from $4.00 to $6.00 in a report issued on Wednesday, Marketbeat reports. The firm currently has a hold rating on the transportation company’s stock.

JBLU has been the topic of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of JetBlue Airways from $7.00 to $6.00 and set a neutral rating on the stock in a research note on Wednesday, April 24th. Susquehanna raised their target price 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. Citigroup lowered their price target on JetBlue Airways from $6.90 to $6.50 and set a neutral rating for the company in a report on Wednesday, May 29th. Barclays reduced their price objective on JetBlue Airways from $6.00 to $5.00 and set an underweight rating on the stock in a report on Monday, May 6th. Finally, Evercore ISI upped their target price on JetBlue Airways from $5.00 to $8.00 and gave the stock an in-line rating in a report on Thursday, April 4th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JetBlue Airways presently has a consensus rating of Hold and a consensus price target of $5.75.

JetBlue Airways Stock Down 6.1 %

Shares of NASDAQ:JBLU opened at $5.56 on Wednesday. The firm has a market capitalization of $1.93 billion, a PE ratio of -2.25 and a beta of 1.93. The business has a 50 day simple moving average of $5.80 and a two-hundred day simple moving average of $6.16. JetBlue Airways has a 1 year low of $3.42 and a 1 year high of $7.58. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.51.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.26. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the business earned $0.45 EPS. JetBlue Airways’s revenue was down 8.0% compared to the same quarter last year. On average, equities analysts predict that JetBlue Airways will post -1.11 EPS for the current year.

Hedge Funds Weigh In On JetBlue Airways

Large investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. lifted its position in JetBlue Airways by 12.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 12,450,690 shares of the transportation company’s stock valued at $69,101,000 after acquiring an additional 1,354,786 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of JetBlue Airways during the 4th quarter valued at $7,475,000. Allianz Asset Management GmbH boosted its position in shares of JetBlue Airways by 70.2% in the 4th quarter. Allianz Asset Management GmbH now owns 2,366,548 shares of the transportation company’s stock worth $13,134,000 after purchasing an additional 975,736 shares in the last quarter. Redwood Investment Management LLC purchased a new position in JetBlue Airways during the 1st quarter worth $3,229,000. Finally, Vanguard Group Inc. increased its position in JetBlue Airways by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 37,059,623 shares of the transportation company’s stock valued at $205,681,000 after buying an additional 354,086 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

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.