TD Cowen Forecasts Strong Price Appreciation for JetBlue Airways (NASDAQ:JBLU) Stock

JetBlue Airways (NASDAQ:JBLU) had its price objective increased by TD Cowen from $4.00 to $5.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the transportation company’s stock. TD Cowen’s target price would suggest a potential downside of 0.79% from the stock’s previous close.

JBLU has been the subject of a number of other reports. Morgan Stanley decreased their price target on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, December 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Wednesday, October 8th. Citigroup started coverage on shares of JetBlue Airways in a research note on Thursday, December 4th. They set a “sell” rating and a $4.10 target price for the company. Finally, Susquehanna upped their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Six research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $5.03.

JetBlue Airways Price Performance

JBLU stock opened at $5.04 on Wednesday. The stock has a market cap of $1.83 billion, a PE ratio of -3.82 and a beta of 1.78. JetBlue Airways has a 12 month low of $3.34 and a 12 month high of $8.31. The company has a 50-day moving average price of $4.57 and a 200 day moving average price of $4.67. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 3.42.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, October 28th. The transportation company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. JetBlue Airways had a negative net margin of 5.16% and a negative return on equity of 19.87%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the company posted ($0.16) EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts anticipate that JetBlue Airways will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On JetBlue Airways

A number of hedge funds and other institutional investors have recently made changes to their positions in JBLU. Caitong International Asset Management Co. Ltd increased its stake in shares of JetBlue Airways by 639.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after buying an additional 5,049 shares during the period. Bogart Wealth LLC lifted its stake in JetBlue Airways by 12,727.3% in the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after acquiring an additional 7,000 shares during the period. HUB Investment Partners LLC bought a new position in JetBlue Airways during the 2nd quarter worth about $45,000. Wealth Enhancement Advisory Services LLC purchased a new position in JetBlue Airways during the 2nd quarter valued at about $47,000. Finally, Ballentine Partners LLC purchased a new position in JetBlue Airways during the 2nd quarter valued at about $48,000. Institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.