JetBlue Airways (NASDAQ:JBLU) PT Raised to $7.00 at Susquehanna

JetBlue Airways (NASDAQ:JBLU) had its price target increased by stock analysts at Susquehanna from $6.00 to $7.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s target price suggests a potential downside of 3.05% from the company’s previous close.

A number of other brokerages have also recently commented on JBLU. Evercore ISI upped their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. 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. TD Cowen increased their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Finally, Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $3.00 to $6.00 in a research note on Monday, September 9th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, JetBlue Airways currently has an average rating of “Hold” and a consensus price target of $5.80.

JetBlue Airways Stock Performance

Shares of JetBlue Airways stock traded up $0.15 on Wednesday, hitting $7.22. The stock had a trading volume of 1,347,093 shares, compared to its average volume of 15,363,243. The company’s 50 day moving average price is $5.61 and its 200 day moving average price is $5.92. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -2.92 and a beta of 1.92. The company has a current ratio of 0.54, a quick ratio of 0.50 and a debt-to-equity ratio of 1.86. JetBlue Airways has a 52-week low of $3.42 and a 52-week high of $7.65.

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

Hedge Funds Weigh In On JetBlue Airways

A number of institutional investors and hedge funds have recently made changes to their positions in JBLU. Smith Anglin Financial LLC boosted its holdings in JetBlue Airways by 14.6% during the third quarter. Smith Anglin Financial LLC now owns 13,839 shares of the transportation company’s stock worth $91,000 after buying an additional 1,763 shares in the last quarter. Sage Rhino Capital LLC grew its holdings in shares of JetBlue Airways by 9.9% in the 2nd quarter. Sage Rhino Capital LLC now owns 19,834 shares of the transportation company’s stock worth $121,000 after acquiring an additional 1,788 shares during the period. PDS Planning Inc increased its stake in JetBlue Airways by 18.2% in the 1st quarter. PDS Planning Inc now owns 13,947 shares of the transportation company’s stock valued at $103,000 after purchasing an additional 2,148 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in JetBlue Airways by 3.9% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 58,330 shares of the transportation company’s stock worth $324,000 after purchasing an additional 2,178 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in JetBlue Airways by 169.8% during the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after purchasing an additional 2,377 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

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.