JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $6.00

JetBlue Airways (NASDAQ:JBLU) had its price target hoisted by JPMorgan Chase & Co. from $5.00 to $6.00 in a research report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

JBLU has been the subject of several other reports. Susquehanna increased 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. Morgan Stanley dropped their price objective on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, December 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday, January 22nd. TD Cowen boosted their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Wednesday, January 7th. Finally, The Goldman Sachs Group upped their price target on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock a “sell” rating in a research report on Tuesday, January 13th. Seven analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, JetBlue Airways presently has a consensus rating of “Reduce” and an average target price of $5.10.

JetBlue Airways Stock Down 3.6%

JetBlue Airways stock opened at $4.87 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 3.42. JetBlue Airways has a 1-year low of $3.34 and a 1-year high of $7.83. The company has a fifty day simple moving average of $4.85 and a 200 day simple moving average of $4.76. The company has a market cap of $1.77 billion, a P/E ratio of -2.92 and a beta of 1.78.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results 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 business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the firm earned ($0.21) earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts anticipate that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Several large investors have recently modified their holdings of JBLU. Caitong International Asset Management Co. Ltd boosted its holdings in shares of JetBlue Airways by 639.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after buying an additional 5,049 shares during the period. Bogart Wealth LLC raised its holdings in JetBlue Airways by 12,727.3% in the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 7,000 shares during the period. HUB Investment Partners LLC acquired a new stake in JetBlue Airways during the second quarter worth approximately $45,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of JetBlue Airways during the second quarter worth approximately $47,000. Finally, Merit Financial Group LLC bought a new stake in shares of JetBlue Airways during the fourth quarter worth approximately $47,000. 83.71% of the stock is owned by 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.