JetBlue Airways (NASDAQ:JBLU) Stock Rating Upgraded by Citigroup

JetBlue Airways (NASDAQ:JBLU) was upgraded by stock analysts at Citigroup from a “sell” rating to a “neutral” rating in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a $6.00 price target on the transportation company’s stock. Citigroup’s target price would suggest a potential upside of 13.85% from the stock’s current price.

JBLU has been the subject of several other reports. The Goldman Sachs Group lifted their price target on JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a report on Tuesday, January 13th. Susquehanna lifted their price objective on shares of JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Evercore ISI raised their target price on JetBlue Airways from $5.00 to $6.00 and gave the company an “in-line” rating in a report on Thursday, January 29th. TD Cowen boosted their target price on JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. upped their price objective 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. Eight investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $5.27.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $5.27 on Tuesday. The company’s fifty day moving average is $4.87 and its two-hundred day moving average is $4.77. The company has a market cap of $1.92 billion, a P/E ratio of -3.16 and a beta of 1.78. JetBlue Airways has a 12-month low of $3.34 and a 12-month high of $7.83. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 3.42.

JetBlue Airways (NASDAQ:JBLU) last issued its 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 during the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the business earned ($0.21) EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Equities analysts expect that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. U S Global Investors Inc. raised its position in JetBlue Airways by 25.2% in the 2nd quarter. U S Global Investors Inc. now owns 5,021,419 shares of the transportation company’s stock valued at $21,241,000 after purchasing an additional 1,011,279 shares during the last quarter. Samalin Investment Counsel LLC bought a new stake in shares of JetBlue Airways during the third quarter worth $1,129,000. Assenagon Asset Management S.A. increased its stake in shares of JetBlue Airways by 17.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,951,255 shares of the transportation company’s stock valued at $9,600,000 after buying an additional 291,758 shares in the last quarter. SG Americas Securities LLC grew its holdings in JetBlue Airways by 372.1% during the 3rd quarter. SG Americas Securities LLC now owns 485,945 shares of the transportation company’s stock worth $2,391,000 after acquiring an additional 383,018 shares during the last quarter. Finally, Soviero Asset Management LP acquired a new stake in JetBlue Airways in the 2nd quarter valued at about $2,369,000. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

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.