JetBlue Airways (NASDAQ:JBLU) Upgraded at UBS Group

UBS Group upgraded shares of JetBlue Airways (NASDAQ:JBLU) from a sell rating to a neutral rating in a report published on Monday morning, MarketBeat.com reports. The firm currently has $3.50 price target on the transportation company’s stock, down from their previous price target of $4.00.

A number of other analysts have also commented on JBLU. The Goldman Sachs Group boosted their price target on JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a report on Thursday, July 2nd. Bank of America increased their price objective on JetBlue Airways from $3.50 to $4.00 and gave the stock an “underperform” rating in a report on Wednesday, July 1st. Barclays dropped their target price on JetBlue Airways from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, September 11th. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Thursday, October 15th. Finally, TD Cowen cut their target price on JetBlue Airways from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Monday, August 24th. Nine research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, JetBlue Airways currently has an average rating of “Reduce” and a consensus price target of $4.98.

JetBlue Airways Trading Up 0.7%

Shares of JBLU stock opened at $2.93 on Monday. JetBlue Airways has a 12-month low of $2.87 and a 12-month high of $6.62. The company has a debt-to-equity ratio of 5.04, a current ratio of 0.70 and a quick ratio of 0.63. The firm has a fifty day moving average of $4.32 and a 200-day moving average of $4.98.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.03. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.69 billion. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.21) EPS. On average, analysts predict that JetBlue Airways will post -2.68 EPS for the current fiscal year.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, CFO Ursula Hurley sold 77,253 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the sale, the chief financial officer directly owned 211,099 shares of the company’s stock, valued at $1,215,930.24. The trade was a 26.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 83,253 shares of company stock valued at $474,477. 2.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On JetBlue Airways

A number of large investors have recently modified their holdings of JBLU. Trust Co. of Vermont acquired a new stake in shares of JetBlue Airways in the second quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in JetBlue Airways during the second quarter valued at approximately $27,000. Rockefeller Capital Management L.P. boosted its position in JetBlue Airways by 157.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 3,373 shares during the last quarter. Essential Partners LLC grew its stake in JetBlue Airways by 1,048.5% in the first quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 6,658 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in JetBlue Airways by 162.2% in the second quarter. EverSource Wealth Advisors LLC now owns 7,707 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 4,768 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

About JetBlue Airways

JetBlue Airways Corporation is a U.S.-based passenger airline that provides scheduled air transportation to destinations across the United States, the Caribbean, Latin America and select locations in Europe. The company operates primarily from focus cities including New York, Boston, Fort Lauderdale, Orlando and Los Angeles, with a network designed to connect major metropolitan areas and leisure destinations.

JetBlue offers multiple classes and service options, including standard economy seating, extra-legroom EvenMore seats and its premium Mint service on select routes.