JetBlue Airways (NASDAQ:JBLU) Stock Price Up 6.2% – What’s Next?

JetBlue Airways Co. (NASDAQ:JBLU) shot up 6.2% during trading on Thursday . The company traded as high as $7.38 and last traded at $7.37. 2,248,994 shares were traded during trading, a decline of 86% from the average session volume of 15,707,075 shares. The stock had previously closed at $6.94.

Analysts Set New Price Targets

Several brokerages recently commented on JBLU. Evercore ISI upped their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Citigroup boosted their target price on JetBlue Airways from $6.00 to $7.75 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen raised their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a report on Friday, September 6th. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Finally, Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and raised their price target for the company from $3.00 to $6.00 in a report on Monday, September 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.31.

JetBlue Airways Stock Up 1.9 %

The firm has a market cap of $2.45 billion, a P/E ratio of -2.85 and a beta of 1.92. The business’s fifty day moving average price is $6.40 and its two-hundred day moving average price is $5.89. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm earned ($0.39) EPS. JetBlue Airways’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts anticipate that JetBlue Airways Co. will post -0.94 EPS for the current year.

Hedge Funds Weigh In On JetBlue Airways

Several large investors have recently made changes to their positions in the business. Smith Anglin Financial LLC increased its position in JetBlue Airways by 14.6% in the 3rd quarter. Smith Anglin Financial LLC now owns 13,839 shares of the transportation company’s stock worth $91,000 after buying an additional 1,763 shares during the period. Sage Rhino Capital LLC raised its stake in JetBlue Airways by 9.9% during the 2nd quarter. Sage Rhino Capital LLC now owns 19,834 shares of the transportation company’s stock valued at $121,000 after purchasing an additional 1,788 shares during the last quarter. Jeppson Wealth Management LLC boosted its holdings in JetBlue Airways by 15.7% in the 3rd quarter. Jeppson Wealth Management LLC now owns 13,650 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 1,850 shares during the period. GAMMA Investing LLC grew its position in JetBlue Airways by 79.2% in the 2nd quarter. GAMMA Investing LLC now owns 6,770 shares of the transportation company’s stock worth $41,000 after purchasing an additional 2,993 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its position in shares of JetBlue Airways by 31.6% in the 1st quarter. EP Wealth Advisors LLC now owns 13,548 shares of the transportation company’s stock worth $101,000 after acquiring an additional 3,255 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.