JetBlue Airways (NASDAQ:JBLU) Given New $6.00 Price Target at Evercore ISI

JetBlue Airways (NASDAQ:JBLU) had its price target lifted by equities researchers at Evercore ISI from $5.00 to $6.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s price target indicates a potential upside of 19.05% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a research note on Tuesday, January 13th. Susquehanna increased their price target on shares of JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a research report on Thursday, January 22nd. JPMorgan Chase & Co. upped their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Morgan Stanley cut their target price on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, December 8th. Seven analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, JetBlue Airways has an average rating of “Reduce” and a consensus target price of $5.10.

JetBlue Airways Trading Up 6.6%

Shares of NASDAQ:JBLU opened at $5.04 on Thursday. The company’s 50-day moving average price is $4.82 and its two-hundred day moving average price is $4.75. JetBlue Airways has a one year low of $3.34 and a one year high of $7.83. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.82 and a quick ratio of 0.77. The stock has a market capitalization of $1.83 billion, a PE ratio of -3.82 and a beta of 1.78.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 24.93%. JetBlue Airways’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) EPS. On average, equities analysts forecast that JetBlue Airways will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

A number of institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its holdings 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. Bogart Wealth LLC increased its position in JetBlue Airways by 12,727.3% during the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after acquiring an additional 7,000 shares during the period. Merit Financial Group LLC bought a new stake in JetBlue Airways in the 4th quarter valued at about $47,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of JetBlue Airways during the second quarter worth approximately $47,000. Finally, HUB Investment Partners LLC acquired a new stake in shares of JetBlue Airways in the second quarter valued at approximately $45,000. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

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.