JetBlue Airways (NASDAQ:JBLU) Shares Up 5.8% – Should You Buy?

JetBlue Airways Co. (NASDAQ:JBLU)’s stock price shot up 5.8% on Friday . The company traded as high as $6.82 and last traded at $6.79. 2,682,311 shares were traded during mid-day trading, a decline of 83% from the average session volume of 15,866,662 shares. The stock had previously closed at $6.42.

Analyst Ratings Changes

JBLU has been the subject of several research reports. Susquehanna upped their target price on JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI increased 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 lifted their target price on shares of JetBlue Airways from $6.00 to $7.75 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen raised their price objective on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Four investment 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, JetBlue Airways has an average rating of “Hold” and an average target price of $6.43.

JetBlue Airways Trading Up 2.6 %

The firm has a market cap of $2.29 billion, a PE ratio of -2.62 and a beta of 1.92. The firm has a fifty day simple moving average of $6.56 and a two-hundred day simple moving average of $5.94. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.10. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.39) earnings per share. Equities analysts forecast that JetBlue Airways Co. will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in JBLU. Bogart Wealth LLC lifted its stake in shares of JetBlue Airways by 1,951.2% in the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 4,000 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of JetBlue Airways in the 3rd quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new position in shares of JetBlue Airways in the 2nd quarter worth about $34,000. GAMMA Investing LLC lifted its position in JetBlue Airways by 79.2% during the 2nd quarter. GAMMA Investing LLC now owns 6,770 shares of the transportation company’s stock valued at $41,000 after acquiring an additional 2,993 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of JetBlue Airways in the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.