JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $6.60 at Citigroup

JetBlue Airways (NASDAQ:JBLU) had its price target raised by equities researchers at Citigroup from $4.40 to $6.60 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Citigroup’s price target would suggest a potential upside of 11.96% from the stock’s previous close.

Several other research analysts have also recently weighed in on JBLU. The Goldman Sachs Group reissued a “sell” rating and issued a $3.50 price objective on shares of JetBlue Airways in a research report on Monday, June 1st. Wall Street Zen raised JetBlue Airways from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. UBS Group boosted their price target on shares of JetBlue Airways from $4.00 to $4.50 and gave the company a “sell” rating in a research report on Tuesday. TD Cowen upgraded shares of JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, JetBlue Airways presently has an average rating of “Reduce” and an average target price of $5.23.

JetBlue Airways Stock Down 0.4%

JBLU traded down $0.03 during trading on Friday, reaching $5.89. The company had a trading volume of 16,984,005 shares, compared to its average volume of 25,172,520. The company has a debt-to-equity ratio of 4.25, a current ratio of 0.70 and a quick ratio of 0.64. The company has a market cap of $2.19 billion, a P/E ratio of -3.04 and a beta of 1.73. The business’s fifty day moving average price is $5.12 and its 200 day moving average price is $5.04. JetBlue Airways has a 12 month low of $3.87 and a 12 month high of $6.50.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.15). JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the company posted ($0.59) EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts anticipate that JetBlue Airways will post -2.67 EPS for the current year.

Insiders Place Their Bets

In other news, Director Thomas Winkelmann sold 35,473 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $4.70, for a total value of $166,723.10. Following the completion of the transaction, the director owned 13,379 shares in the company, valued at $62,881.30. This represents a 72.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vivek Sharma sold 32,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the transaction, the director owned 35,479 shares of the company’s stock, valued at approximately $191,941.39. This trade represents a 47.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.41% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of JBLU. Citigroup Inc. boosted its holdings in JetBlue Airways by 91.0% during the third quarter. Citigroup Inc. now owns 813,375 shares of the transportation company’s stock worth $4,002,000 after buying an additional 387,543 shares in the last quarter. U S Global Investors Inc. raised its holdings in JetBlue Airways by 4.9% during the fourth quarter. U S Global Investors Inc. now owns 4,728,754 shares of the transportation company’s stock worth $21,516,000 after purchasing an additional 219,622 shares during the last quarter. SG Americas Securities LLC raised its holdings in JetBlue Airways by 72.8% during the fourth quarter. SG Americas Securities LLC now owns 839,551 shares of the transportation company’s stock worth $3,820,000 after purchasing an additional 353,606 shares during the last quarter. GSA Capital Partners LLP boosted its position in JetBlue Airways by 185.8% during the fourth quarter. GSA Capital Partners LLP now owns 462,258 shares of the transportation company’s stock worth $2,103,000 after purchasing an additional 300,522 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in JetBlue Airways during the fourth quarter worth $1,333,000. 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.