JetBlue Airways (NASDAQ:JBLU) Earns Market Perform Rating from Analysts at BMO Capital Markets

Investment analysts at BMO Capital Markets began coverage on shares of JetBlue Airways (NASDAQ:JBLU) in a note issued to investors on Tuesday,Benzinga reports. The firm set a “market perform” rating and a $4.50 price target on the transportation company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 7.14% from the stock’s current price.

Several other analysts have also recently issued reports on JBLU. TD Cowen upgraded shares of JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. UBS Group lowered their price objective on JetBlue Airways from $4.00 to $3.50 and set a “sell” rating on the stock in a research report on Monday, March 16th. The Goldman Sachs Group boosted their target price 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 reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday, January 22nd. Finally, Evercore lifted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $4.80.

JetBlue Airways Trading Up 4.2%

Shares of JBLU opened at $4.20 on Tuesday. The business’s 50-day moving average price is $5.20 and its 200-day moving average price is $4.87. JetBlue Airways has a twelve month low of $3.34 and a twelve month high of $6.50. The stock has a market cap of $1.55 billion, a PE ratio of -2.51 and a beta of 1.71. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 3.65.

JetBlue Airways (NASDAQ:JBLU) last announced 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 firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. JetBlue Airways had a negative return on equity of 25.62% and a negative net margin of 6.64%.The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) earnings per share. On average, equities analysts forecast that JetBlue Airways will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its position in JetBlue Airways by 157.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 3,373 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of JetBlue Airways by 26.1% during the 4th quarter. Corient Private Wealth LLC now owns 22,513 shares of the transportation company’s stock valued at $102,000 after purchasing an additional 4,664 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of JetBlue Airways by 203.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 17,729 shares of the transportation company’s stock valued at $81,000 after buying an additional 11,890 shares in the last quarter. Alpine Global Management LLC bought a new stake in JetBlue Airways in the 4th quarter worth approximately $89,000. Finally, Virtu Financial LLC purchased a new stake in JetBlue Airways in the fourth quarter worth approximately $1,333,000. 83.71% of the stock is currently 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.