JetBlue Airways (NASDAQ:JBLU) Trading 7.3% Higher on Analyst Upgrade

JetBlue Airways Corporation (NASDAQ:JBLU) shares were up 7.3% during mid-day trading on Tuesday after Citigroup upgraded the stock from a sell rating to a neutral rating. Citigroup now has a $6.00 price target on the stock. JetBlue Airways traded as high as $5.62 and last traded at $5.6550. Approximately 4,271,599 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 20,945,316 shares. The stock had previously closed at $5.27.

A number of other analysts also recently commented on the company. Morgan Stanley dropped their price objective on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, December 8th. TD Cowen boosted their price objective on JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a report on Wednesday, January 7th. Evercore ISI raised their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock an “in-line” rating in a report on Thursday, January 29th. The Goldman Sachs Group boosted their price target on shares of JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Eight research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, JetBlue Airways presently has a consensus rating of “Reduce” and a consensus target price of $5.27.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Par Capital Management Inc. boosted its stake in shares of JetBlue Airways by 105.3% during the 2nd quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock worth $23,212,000 after acquiring an additional 2,814,870 shares in the last quarter. Prentice Capital Management LP lifted its holdings in shares of JetBlue Airways by 210.4% during the 3rd quarter. Prentice Capital Management LP now owns 2,276,428 shares of the transportation company’s stock valued at $11,200,000 after buying an additional 1,542,959 shares during the last quarter. U S Global Investors Inc. increased its holdings in shares of JetBlue Airways by 25.2% during 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 acquiring an additional 1,011,279 shares during the last quarter. Ameriprise Financial Inc. lifted its position in JetBlue Airways by 154.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,660,015 shares of the transportation company’s stock worth $7,022,000 after acquiring an additional 1,006,850 shares during the last quarter. Finally, ING Groep NV bought a new stake in JetBlue Airways during the third quarter valued at about $4,920,000. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Stock Up 7.3%

The company has a debt-to-equity ratio of 3.42, a current ratio of 0.82 and a quick ratio of 0.77. The firm has a market capitalization of $2.06 billion, a P/E ratio of -3.42 and a beta of 1.78. The business has a 50 day moving average price of $4.87 and a 200 day moving average price of $4.77.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, January 27th. The transportation company reported ($0.49) 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 the consensus estimate of $2.22 billion. JetBlue Airways had a negative return on equity of 24.93% and a negative net margin of 6.64%.JetBlue Airways’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.21) EPS. On average, analysts predict that JetBlue Airways Corporation will post -0.69 earnings per share for the current year.

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.