BMO Capital Markets Initiates Coverage on JetBlue Airways (NASDAQ:JBLU)

Analysts at BMO Capital Markets started coverage on shares of JetBlue Airways (NASDAQ:JBLU) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage set a “market perform” rating and a $4.50 price target on the transportation company’s stock. BMO Capital Markets’ target price points to a potential upside of 7.14% from the company’s previous close.

Several other research firms have also issued reports on JBLU. Morgan Stanley reduced their price target on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, December 8th. TD Cowen raised shares of JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. The Goldman Sachs Group increased their price target on shares of JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a research report on Tuesday, January 13th. JPMorgan Chase & Co. raised their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Finally, Evercore boosted their price objective on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $4.80.

JetBlue Airways Stock Performance

NASDAQ JBLU opened at $4.20 on Tuesday. The company has a 50-day simple moving average of $5.20 and a two-hundred day simple moving average of $4.87. 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 has a 12-month low of $3.34 and a 12-month high of $6.50. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -2.51 and a beta of 1.71.

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

Institutional Trading of JetBlue Airways

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. boosted its holdings in JetBlue Airways by 157.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 3,373 shares in the last quarter. Corient Private Wealth LLC boosted its stake 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 in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of JetBlue Airways by 203.6% during the fourth 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 during the period. Alpine Global Management LLC bought a new position in JetBlue Airways in the fourth quarter worth about $89,000. Finally, Virtu Financial LLC bought a new position in JetBlue Airways in the fourth quarter worth about $1,333,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.