JetBlue Airways (NASDAQ:JBLU) Shares Up 10.9% Following Analyst Upgrade

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) traded up 10.9% on Friday after Susquehanna raised their price target on the stock from $4.00 to $5.00. Susquehanna currently has a neutral rating on the stock. JetBlue Airways traded as high as $4.74 and last traded at $5.1680. 4,749,693 shares were traded during mid-day trading, a decline of 80% from the average session volume of 24,345,350 shares. The stock had previously closed at $4.66.

JBLU has been the subject of several other research reports. UBS Group dropped their target price on JetBlue Airways from $4.00 to $3.50 and set a “sell” rating for the company in a research report on Monday, March 16th. Citigroup decreased their target price on JetBlue Airways from $6.00 to $4.40 and set a “neutral” rating for the company in a research report on Friday, March 20th. Evercore upped their price target on shares of 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 reissued a “sell (d-)” rating on shares of JetBlue Airways in a research report on Tuesday, April 21st. Finally, BMO Capital Markets began coverage on shares of JetBlue Airways in a research note on Tuesday, March 24th. They set a “market perform” rating and a $4.50 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $4.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in JetBlue Airways by 85.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 12,124,292 shares of the transportation company’s stock valued at $55,166,000 after buying an additional 5,591,470 shares in the last quarter. Deutsche Bank AG raised its holdings in JetBlue Airways by 1,157.9% during the fourth quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company’s stock worth $15,270,000 after purchasing an additional 3,089,226 shares in the last quarter. Par Capital Management Inc. boosted its holdings in shares of JetBlue Airways by 105.3% in the 2nd quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock valued at $23,212,000 after buying an additional 2,814,870 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in JetBlue Airways during the 4th quarter worth $8,795,000. Finally, Prentice Capital Management LP lifted its position in JetBlue Airways by 210.4% in the third quarter. Prentice Capital Management LP now owns 2,276,428 shares of the transportation company’s stock valued at $11,200,000 after acquiring an additional 1,542,959 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Stock Performance

The stock’s 50 day moving average is $4.85 and its two-hundred day moving average is $4.86. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -2.66 and a beta of 1.75. The company has a current ratio of 0.70, a quick ratio of 0.69 and a debt-to-equity ratio of 4.25.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company earned ($0.59) earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts anticipate that JetBlue Airways Corporation will post -2.37 earnings per share for the current fiscal year.

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.