JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $6.00

JetBlue Airways (NASDAQ:JBLU) had its price objective lifted by Susquehanna from $5.00 to $6.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s target price indicates a potential downside of 0.99% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Wall Street Zen upgraded JetBlue Airways from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Seaport Research Partners raised shares of JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Thursday, April 16th. BMO Capital Markets began coverage on shares of JetBlue Airways in a report on Tuesday, March 24th. They set a “market perform” rating and a $4.50 price objective on the stock. UBS Group raised their target price on shares of JetBlue Airways from $4.00 to $4.50 and gave the stock a “sell” rating in a research report on Tuesday, June 23rd. Finally, Citigroup boosted their target price on shares of JetBlue Airways from $4.40 to $6.60 and gave the company a “neutral” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, JetBlue Airways has a consensus rating of “Reduce” and a consensus target price of $5.31.

JetBlue Airways Trading Up 0.7%

Shares of JBLU opened at $6.06 on Tuesday. JetBlue Airways has a fifty-two week low of $3.87 and a fifty-two week high of $6.50. The company has a market capitalization of $2.25 billion, a PE ratio of -3.12 and a beta of 1.73. The stock has a fifty day moving average of $5.18 and a two-hundred day moving average of $5.09. The company has a debt-to-equity ratio of 4.25, a quick ratio of 0.64 and a current ratio of 0.70.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.15). The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.JetBlue Airways’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.59) EPS. As a group, analysts forecast that JetBlue Airways will post -2.64 EPS for the current year.

Insider Transactions at JetBlue Airways

In other news, Director Vivek Sharma sold 32,000 shares of JetBlue Airways stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the transaction, the director directly owned 35,479 shares of the company’s stock, valued at $191,941.39. The trade was a 47.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas Winkelmann sold 35,473 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $4.70, for a total value of $166,723.10. Following the sale, the director owned 13,379 shares of the company’s stock, valued at $62,881.30. The trade was a 72.61% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.41% of the company’s stock.

Institutional Investors Weigh In On JetBlue Airways

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its stake in shares of JetBlue Airways by 131.2% in the 1st quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company’s stock valued at $436,000 after acquiring an additional 51,377 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in JetBlue Airways by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company’s stock worth $896,000 after purchasing an additional 8,053 shares during the period. Goldman Sachs Group Inc. boosted its position in JetBlue Airways by 6.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company’s stock worth $23,085,000 after purchasing an additional 274,892 shares during the period. United Services Automobile Association acquired a new stake in JetBlue Airways in the 1st quarter valued at $106,000. Finally, Cetera Investment Advisers increased its holdings in JetBlue Airways by 10.7% in the 2nd quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 2,954 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other 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.