JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $8.00

JetBlue Airways (NASDAQ:JBLU) had its target price raised by Susquehanna from $6.00 to $8.00 in a research report sent to investors on Tuesday,Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

A number of other equities research analysts have also issued reports on JBLU. Evercore ISI boosted their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Barclays boosted their target price on shares of JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a research note on Thursday, November 14th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $5.50 target price on shares of JetBlue Airways in a research report on Friday, November 15th. UBS Group reissued a “sell” rating and set a $5.00 price target on shares of JetBlue Airways in a research report on Tuesday, November 26th. Finally, Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $3.00 to $6.00 in a research report on Monday, September 9th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, JetBlue Airways has an average rating of “Hold” and a consensus price target of $6.65.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $7.70 on Tuesday. The company has a market capitalization of $2.67 billion, a PE ratio of -3.06 and a beta of 1.84. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. The stock has a fifty day moving average of $6.84 and a 200-day moving average of $6.26. JetBlue Airways has a one year low of $4.49 and a one year high of $8.28.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.10. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate 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 revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.39) earnings per share. As a group, equities analysts anticipate that JetBlue Airways will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in shares of JetBlue Airways by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 17,878,115 shares of the transportation company’s stock worth $108,875,000 after purchasing an additional 521,767 shares during the last quarter. American Century Companies Inc. increased its position in JetBlue Airways by 16.4% during the second quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock worth $48,970,000 after buying an additional 1,135,217 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in JetBlue Airways by 13.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock valued at $37,141,000 after buying an additional 663,865 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 buying an additional 2,584,350 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of JetBlue Airways by 715.3% during 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 acquiring an additional 1,430,622 shares during the last quarter. Institutional investors 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.