Bank of America Forecasts Strong Price Appreciation for JetBlue Airways (NASDAQ:JBLU) Stock

JetBlue Airways (NASDAQ:JBLU) had its price target upped by investment analysts at Bank of America from $3.50 to $4.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “underperform” rating on the transportation company’s stock. Bank of America‘s price objective suggests a potential downside of 30.50% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Susquehanna lifted their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. BMO Capital Markets started coverage on shares of JetBlue Airways in a research note on Tuesday, March 24th. They issued a “market perform” rating and a $4.50 price target on the stock. Seaport Research Partners upgraded JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Thursday, April 16th. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Tuesday, April 21st. Finally, Citigroup upped their target price on JetBlue Airways from $4.40 to $6.60 and gave the stock a “neutral” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $5.11.

JetBlue Airways Stock Up 0.4%

Shares of JBLU traded up $0.03 during trading hours on Wednesday, reaching $5.75. The company’s stock had a trading volume of 3,849,074 shares, compared to its average volume of 25,246,355. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -2.96 and a beta of 1.73. JetBlue Airways has a 1-year low of $3.87 and a 1-year high of $6.50. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 4.25. The company has a 50 day moving average of $5.13 and a two-hundred day moving average of $5.06.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported ($0.87) EPS for the quarter, missing the consensus estimate 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 company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business posted ($0.59) earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts predict that JetBlue Airways will post -2.67 EPS for the current fiscal year.

Insider Transactions at JetBlue Airways

In related news, Director Thomas Winkelmann sold 35,473 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $4.70, for a total value of $166,723.10. Following the completion of the sale, the director directly owned 13,379 shares in the company, valued at approximately $62,881.30. The trade was a 72.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vivek Sharma sold 32,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the sale, 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 SEC filing for this sale provides additional information. 2.41% of the stock is owned by insiders.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its stake in JetBlue Airways by 157.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after buying an additional 3,373 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position 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 acquiring an additional 5,049 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in JetBlue Airways during the fourth quarter valued at about $30,000. Leonteq Securities AG bought a new stake in JetBlue Airways during the fourth quarter valued at about $32,000. Finally, Essential Partners LLC grew its position 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 valued at $32,000 after purchasing an additional 6,658 shares during the last quarter. Institutional investors 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.