JetBlue Airways (NASDAQ:JBLU) Stock Rating Upgraded by Citigroup

JetBlue Airways (NASDAQ:JBLU) was upgraded by Citigroup from a “sell” rating to a “neutral” rating in a report released on Tuesday, Marketbeat reports. The firm presently has a $6.00 price objective on the transportation company’s stock. Citigroup’s price target would suggest a potential upside of 0.67% from the company’s previous close.

Several other research analysts also recently weighed in on JBLU. Susquehanna increased their price target on shares of JetBlue Airways from $4.55 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. JPMorgan Chase & Co. upped their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Evercore ISI raised their target price on JetBlue Airways from $5.00 to $6.00 and gave the stock an “in-line” rating in a report on Thursday, January 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Thursday, January 22nd. Finally, Morgan Stanley reduced their price target on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, December 8th. Eight analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $5.27.

JetBlue Airways Trading Up 7.0%

Shares of NASDAQ:JBLU opened at $5.96 on Tuesday. The stock’s 50-day simple moving average is $4.93 and its two-hundred day simple moving average is $4.78. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -3.57 and a beta of 1.78. JetBlue Airways has a 52-week low of $3.34 and a 52-week high of $7.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.77 and a current ratio of 0.82.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.22 billion. JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 24.93%. JetBlue Airways’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.21) EPS. Analysts expect that JetBlue Airways will post -0.69 EPS for the current year.

Institutional Investors Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently bought and sold shares of the business. U S Global Investors Inc. lifted its stake in JetBlue Airways by 25.2% in the 2nd quarter. U S Global Investors Inc. now owns 5,021,419 shares of the transportation company’s stock worth $21,241,000 after purchasing an additional 1,011,279 shares in the last quarter. Samalin Investment Counsel LLC purchased a new position in shares of JetBlue Airways during the third quarter valued at about $1,129,000. Assenagon Asset Management S.A. increased its holdings in shares of JetBlue Airways by 17.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,951,255 shares of the transportation company’s stock worth $9,600,000 after purchasing an additional 291,758 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of JetBlue Airways by 372.1% in the third quarter. SG Americas Securities LLC now owns 485,945 shares of the transportation company’s stock worth $2,391,000 after purchasing an additional 383,018 shares during the last quarter. Finally, Soviero Asset Management LP purchased a new stake in shares of JetBlue Airways in the second quarter worth about $2,369,000. 83.71% of the stock is owned by institutional investors.

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.