JetBlue Airways (NASDAQ:JBLU) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of JetBlue Airways (NASDAQ:JBLU) from an underperform rating to a neutral rating in a report published on Monday morning, Marketbeat Ratings reports. They currently have $6.00 target price on the transportation company’s stock, up from their prior target price of $3.00.

Other research analysts have also recently issued reports about the stock. TD Cowen lifted their price objective 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. Citigroup reduced their price objective on shares of JetBlue Airways from $6.90 to $6.50 and set a neutral rating for the company in a report on Wednesday, May 29th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $6.00.

JetBlue Airways Trading Up 4.8 %

JBLU opened at $5.92 on Monday. JetBlue Airways has a 1-year low of $3.42 and a 1-year high of $7.58. The company has a current ratio of 0.54, a quick ratio of 0.50 and a debt-to-equity ratio of 1.86. The company has a market cap of $2.01 billion, a P/E ratio of -2.40 and a beta of 1.90. The company has a fifty day moving average price of $5.52 and a two-hundred day moving average price of $6.01.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.26. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.40 billion. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. Analysts predict that JetBlue Airways will post -1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in JetBlue Airways in the first quarter valued at about $25,000. Trust Co. of Vermont purchased a new position in JetBlue Airways in the second quarter valued at about $27,000. GAMMA Investing LLC boosted its stake in JetBlue Airways by 169.8% in the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 2,377 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in JetBlue Airways in the first quarter valued at about $30,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in JetBlue Airways in the second quarter valued at about $34,000. 83.71% of the stock is currently 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.