JetBlue Airways (NASDAQ:JBLU) Stock Price Expected to Rise, Evercore ISI Analyst Says

JetBlue Airways (NASDAQ:JBLU) had its price objective raised by analysts at Evercore ISI from $5.00 to $6.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s price objective suggests a potential upside of 23.20% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a research note on Thursday, January 22nd. Morgan Stanley reduced their price target on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, December 8th. Citigroup dropped their price objective on JetBlue Airways from $4.10 to $4.00 and set a “sell” rating for the company in a report on Wednesday, January 7th. TD Cowen lifted their price objective on JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a research report on Wednesday, January 7th. Finally, The Goldman Sachs Group upped their target price on JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a report on Tuesday, January 13th. Seven equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $5.10.

JetBlue Airways Stock Performance

NASDAQ:JBLU opened at $4.87 on Thursday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.77 and a current ratio of 0.82. JetBlue Airways has a fifty-two week low of $3.34 and a fifty-two week high of $7.83. The firm has a market cap of $1.77 billion, a PE ratio of -2.92 and a beta of 1.78. The business has a 50 day moving average price of $4.85 and a 200-day moving average price of $4.76.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 24.93%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the company earned ($0.21) earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that JetBlue Airways will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On JetBlue Airways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in JetBlue Airways by 639.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after buying an additional 5,049 shares during the period. Bogart Wealth LLC increased its stake in shares of JetBlue Airways by 12,727.3% in the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after acquiring an additional 7,000 shares in the last quarter. Merit Financial Group LLC purchased a new position in JetBlue Airways during the 4th quarter valued at about $47,000. Wealth Enhancement Advisory Services LLC bought a new stake in JetBlue Airways during the second quarter worth about $47,000. Finally, HUB Investment Partners LLC purchased a new stake in JetBlue Airways in the second quarter worth about $45,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.