TD Cowen Raises JetBlue Airways (NASDAQ:JBLU) Price Target to $6.00

JetBlue Airways (NASDAQ:JBLU) had its target price increased by TD Cowen from $4.00 to $6.00 in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a hold rating on the transportation company’s stock.

Several other brokerages have also recently commented on JBLU. Barclays cut their price target on shares of JetBlue Airways from $6.00 to $5.00 and set an underweight rating on the stock in a research report on Monday, May 6th. Susquehanna 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 Tuesday, April 9th. Evercore ISI upped their target price on shares of JetBlue Airways from $5.00 to $8.00 and gave the company an in-line rating in a report on Thursday, April 4th. Citigroup dropped their target price on shares of JetBlue Airways from $6.90 to $6.50 and set a neutral rating on the stock in a report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of JetBlue Airways from $7.00 to $6.00 and set a neutral rating on the stock in a report on Wednesday, April 24th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, JetBlue Airways has a consensus rating of Hold and a consensus price target of $5.75.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $5.56 on Wednesday. The company’s 50-day moving average price is $5.80 and its two-hundred day moving average price is $6.16. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.51. JetBlue Airways has a one year low of $3.42 and a one year high of $7.58.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.26. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the firm posted $0.45 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. Research analysts anticipate that JetBlue Airways will post -1.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Essex Financial Services Inc. bought a new position in JetBlue Airways in the 2nd quarter valued at about $98,000. Ingalls & Snyder LLC raised its holdings in JetBlue Airways by 23.1% in the 2nd quarter. Ingalls & Snyder LLC now owns 112,300 shares of the transportation company’s stock valued at $684,000 after acquiring an additional 21,100 shares during the period. Commonwealth Equity Services LLC raised its holdings in JetBlue Airways by 13.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 232,849 shares of the transportation company’s stock valued at $1,418,000 after acquiring an additional 28,054 shares during the period. Sage Rhino Capital LLC raised its holdings in JetBlue Airways by 9.9% in the 2nd quarter. Sage Rhino Capital LLC now owns 19,834 shares of the transportation company’s stock valued at $121,000 after acquiring an additional 1,788 shares during the period. Finally, Innealta Capital LLC grew its position in shares of JetBlue Airways by 253.2% during the 2nd quarter. Innealta Capital LLC now owns 39,801 shares of the transportation company’s stock worth $242,000 after purchasing an additional 28,533 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

About JetBlue Airways

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.