JetBlue Airways (NASDAQ:JBLU) Rating Increased to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of JetBlue Airways (NASDAQ:JBLU) from an underweight rating to a neutral rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has $7.00 price target on the transportation company’s stock.

Other analysts also recently issued research reports about the stock. Susquehanna upped their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a neutral rating in a report on Tuesday, April 9th. UBS Group assumed coverage on shares of JetBlue Airways in a report on Wednesday, March 20th. They issued a sell rating and a $5.00 price target on the stock. Bank of America downgraded shares of JetBlue Airways from a neutral rating to an underperform rating and reduced their price target for the company from $6.00 to $3.00 in a report on Tuesday, January 9th. Deutsche Bank Aktiengesellschaft raised shares of JetBlue Airways from a hold rating to a buy rating and upped their price target for the company from $4.00 to $9.00 in a report on Tuesday, February 20th. Finally, Barclays began coverage on shares of JetBlue Airways in a research note on Wednesday, March 27th. They set an underweight rating and a $6.00 price objective on the stock. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, JetBlue Airways currently has a consensus rating of Hold and an average price target of $5.86.

JetBlue Airways Price Performance

Shares of JBLU opened at $7.11 on Thursday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.57 and a current ratio of 0.60. The firm’s 50-day moving average is $6.91 and its two-hundred day moving average is $5.59. JetBlue Airways has a twelve month low of $3.42 and a twelve month high of $9.45.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, January 30th. The transportation company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.10. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that JetBlue Airways will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in JetBlue Airways during the first quarter worth approximately $25,000. Chesley Taft & Associates LLC acquired a new stake in shares of JetBlue Airways in the first quarter worth $260,000. GAMMA Investing LLC increased its position in shares of JetBlue Airways by 169.8% in the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after acquiring an additional 2,377 shares in the last quarter. CWM LLC increased its position in shares of JetBlue Airways by 20.2% in the first quarter. CWM LLC now owns 30,224 shares of the transportation company’s stock worth $224,000 after acquiring an additional 5,069 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of JetBlue Airways by 62.7% in the first quarter. Versant Capital Management Inc now owns 10,363 shares of the transportation company’s stock worth $77,000 after acquiring an additional 3,992 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.