JetBlue Airways (NASDAQ:JBLU) Shares Gap Up – Time to Buy?

JetBlue Airways Co. (NASDAQ:JBLU) shares gapped up before the market opened on Wednesday . The stock had previously closed at $6.32, but opened at $6.65. JetBlue Airways shares last traded at $7.23, with a volume of 3,324,348 shares traded.

Analyst Ratings Changes

JBLU has been the subject of a number of recent analyst reports. Evercore ISI increased their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Susquehanna raised their target price on shares of JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Citigroup upped their price objective on JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. Finally, TD Cowen increased their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.31.

JetBlue Airways Trading Up 13.0 %

The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 2.98. The business has a fifty day simple moving average of $6.34 and a 200 day simple moving average of $5.88.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. JetBlue Airways’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned ($0.39) earnings per share. Equities analysts forecast that JetBlue Airways Co. will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Several institutional investors have recently made changes to their positions in JBLU. Allspring Global Investments Holdings LLC acquired a new position in JetBlue Airways in the 1st quarter valued at $25,000. Trust Co. of Vermont bought a new position in shares of JetBlue Airways in the second quarter worth $27,000. Bogart Wealth LLC increased its position in shares of JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after purchasing an additional 4,000 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in JetBlue Airways in the third quarter valued at about $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in JetBlue Airways during the second quarter worth about $34,000. 83.71% of the stock is currently owned by institutional investors.

About JetBlue Airways

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.