JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $6.75

JetBlue Airways (NASDAQ:JBLU) had its target price hoisted by BMO Capital Markets from $6.00 to $6.75 in a report published on Wednesday morning,Benzinga reports. The firm currently has a market perform rating on the transportation company’s stock.

A number of other research firms also recently issued reports on JBLU. Wall Street Zen raised JetBlue Airways from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Raymond James Financial reaffirmed an “underperform” rating on shares of JetBlue Airways in a research note on Monday, July 6th. Seaport Research Partners upgraded shares of JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a report on Thursday, April 16th. Citigroup upped their price target on shares of JetBlue Airways from $4.40 to $6.60 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, JetBlue Airways has an average rating of “Reduce” and an average price target of $5.54.

JetBlue Airways Price Performance

Shares of JBLU stock opened at $6.03 on Wednesday. The company has a debt-to-equity ratio of 5.04, a current ratio of 0.70 and a quick ratio of 0.64. The company has a market capitalization of $2.28 billion, a P/E ratio of -2.52 and a beta of 1.73. The company’s 50-day simple moving average is $5.45 and its two-hundred day simple moving average is $5.19. JetBlue Airways has a one year low of $3.87 and a one year high of $6.50.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.03. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.69 billion. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted ($0.21) earnings per share. As a group, equities analysts anticipate that JetBlue Airways will post -2.36 EPS for the current year.

Insider Buying and Selling

In other news, Director Vivek Sharma sold 32,000 shares of the 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 approximately $191,941.39. This represents a 47.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.41% of the company’s stock.

Hedge Funds Weigh In On JetBlue Airways

Several institutional investors and hedge funds have recently modified their holdings of JBLU. Rockefeller Capital Management L.P. boosted its stake in shares of JetBlue Airways by 157.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock worth $25,000 after acquiring an additional 3,373 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in JetBlue Airways by 639.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after purchasing an additional 5,049 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of JetBlue Airways in the fourth quarter valued at about $30,000. Leonteq Securities AG acquired a new stake in shares of JetBlue Airways in the fourth quarter valued at about $32,000. Finally, Essential Partners LLC lifted its stake in shares of JetBlue Airways by 1,048.5% in the first quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock worth $32,000 after buying an additional 6,658 shares in the last quarter. Institutional investors and hedge funds 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.