JetBlue Airways (NASDAQ:JBLU) Hits New 52-Week High – What’s Next?

Shares of JetBlue Airways Co. (NASDAQ:JBLU) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.31 and last traded at $7.96, with a volume of 26625429 shares. The stock had previously closed at $7.64.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Susquehanna increased their target price on JetBlue Airways from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group reiterated a “sell” rating and set a $5.50 price objective on shares of JetBlue Airways in a report on Friday, November 15th. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Citigroup lifted their price target on shares of JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Finally, Bank of America restated an “underperform” rating and set a $6.50 price objective on shares of JetBlue Airways in a report on Friday, January 17th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, JetBlue Airways has a consensus rating of “Hold” and a consensus price target of $6.69.

JetBlue Airways Price Performance

The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18. The company has a market cap of $2.74 billion, a PE ratio of -3.14 and a beta of 1.84. The company has a 50-day moving average price of $7.11 and a two-hundred day moving average price of $6.38.

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, topping analysts’ consensus estimates of ($0.26) by $0.10. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. JetBlue Airways’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.39) EPS. Sell-side analysts expect that JetBlue Airways Co. will post -0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JBLU. JPMorgan Chase & Co. lifted its stake in shares of JetBlue Airways by 88.2% in the third quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company’s stock worth $36,170,000 after acquiring an additional 2,584,350 shares in the last quarter. SG Americas Securities LLC raised its position in shares of JetBlue Airways by 5,648.9% in the 4th quarter. SG Americas Securities LLC now owns 1,470,062 shares of the transportation company’s stock valued at $11,555,000 after purchasing an additional 1,444,491 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of JetBlue Airways by 715.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock valued at $9,930,000 after purchasing an additional 1,430,622 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of JetBlue Airways by 429.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,232,385 shares of the transportation company’s stock valued at $8,084,000 after buying an additional 999,713 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of JetBlue Airways in the third quarter worth $5,311,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

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.