Brokerages Set JetBlue Airways Co. (NASDAQ:JBLU) Price Target at $6.00

JetBlue Airways Co. (NASDAQ:JBLU) has been assigned a consensus recommendation of “Reduce” from the ten analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $6.00.

Several analysts recently weighed in on JBLU shares. Citigroup upped their price objective on JetBlue Airways from $5.75 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Bank of America raised JetBlue Airways from an “underperform” rating to a “neutral” rating and upped their price target for the company from $3.00 to $6.00 in a research report on Monday, September 9th. Finally, TD Cowen lifted their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, September 6th.

JetBlue Airways Stock Performance

JetBlue Airways stock opened at $6.42 on Monday. JetBlue Airways has a 52 week low of $3.42 and a 52 week high of $7.58. The company has a current ratio of 0.54, a quick ratio of 0.50 and a debt-to-equity ratio of 1.86. The stock has a market cap of $2.18 billion, a P/E ratio of -2.60 and a beta of 1.90. The stock has a 50 day moving average of $5.50 and a 200-day moving average of $5.95.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.26. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.40 billion. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. On average, analysts expect that JetBlue Airways will post -1 EPS for the current fiscal year.

Institutional Trading of JetBlue Airways

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in JetBlue Airways in the 1st quarter worth about $25,000. Trust Co. of Vermont bought a new position in JetBlue Airways in the 2nd quarter worth approximately $27,000. GAMMA Investing LLC raised its stake in JetBlue Airways by 169.8% during the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 2,377 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in JetBlue Airways during the 1st quarter worth $30,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of JetBlue Airways in the second quarter worth $34,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.