JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $5.00

JetBlue Airways (NASDAQ:JBLU) had its price objective boosted by Evercore ISI from $4.00 to $5.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s target price would suggest a potential downside of 31.51% from the company’s previous close.

A number of other research analysts have also commented on the stock. Citigroup upped their price objective on shares of JetBlue Airways from $5.75 to $6.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. TD Cowen upped their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a report on Friday, September 6th. Finally, Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $3.00 to $6.00 in a research report on Monday, September 9th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.70.

JetBlue Airways Stock Performance

JBLU opened at $7.30 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.54 and a debt-to-equity ratio of 1.86. The stock’s 50 day moving average price is $5.58 and its two-hundred day moving average price is $5.93. The firm has a market capitalization of $2.48 billion, a P/E ratio of -2.96 and a beta of 1.92. JetBlue Airways has a 12-month low of $3.42 and a 12-month high of $7.65.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.26. The business 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%. JetBlue Airways’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share. On average, equities analysts forecast that JetBlue Airways will post -1 earnings per share for the current year.

Institutional Investors Weigh In On JetBlue Airways

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in JetBlue Airways by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 37,376,886 shares of the transportation company’s stock valued at $277,336,000 after buying an additional 317,263 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of JetBlue Airways by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 17,878,115 shares of the transportation company’s stock valued at $108,875,000 after acquiring an additional 521,767 shares during the period. Donald Smith & CO. Inc. boosted its stake in shares of JetBlue Airways by 6.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 13,256,094 shares of the transportation company’s stock valued at $98,360,000 after purchasing an additional 805,404 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of JetBlue Airways by 16.4% in the 2nd quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock worth $48,970,000 after purchasing an additional 1,135,217 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of JetBlue Airways by 715.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock worth $9,930,000 after purchasing an additional 1,430,622 shares in the last quarter. 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.