JetBlue Airways (NASDAQ:JBLU) Rating Increased to Neutral at JPMorgan Chase & Co.

JetBlue Airways (NASDAQ:JBLU) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage currently has a $7.00 price objective on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 1.55% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Barclays initiated coverage on shares of JetBlue Airways in a research note on Wednesday, March 27th. They set an “underweight” rating and a $6.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded JetBlue Airways from a “hold” rating to a “buy” rating and increased their target price for the company from $4.00 to $9.00 in a research report on Tuesday, February 20th. Bank of America cut JetBlue Airways from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $6.00 to $3.00 in a report on Tuesday, January 9th. Evercore ISI raised their price objective on shares of JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, UBS Group initiated coverage on shares of JetBlue Airways in a research report on Wednesday, March 20th. They issued a “sell” rating and a $5.00 price target for the company. Five analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.86.

JetBlue Airways Price Performance

Shares of JBLU stock opened at $7.11 on Thursday. The business has a fifty day simple moving average of $6.94 and a 200 day simple moving average of $5.61. The company has a market cap of $2.42 billion, a P/E ratio of -7.56 and a beta of 1.86. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.32. JetBlue Airways has a twelve month low of $3.42 and a twelve month high of $9.45.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, January 30th. The transportation company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.29 billion. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, sell-side analysts forecast that JetBlue Airways will post -0.72 EPS for the current fiscal year.

Institutional Trading of JetBlue Airways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in shares of JetBlue Airways by 162.3% in the 1st quarter. Raymond James & Associates now owns 174,219 shares of the transportation company’s stock valued at $2,605,000 after purchasing an additional 107,791 shares during the last quarter. American Century Companies Inc. boosted its position in JetBlue Airways by 21.7% during the first quarter. American Century Companies Inc. now owns 44,471 shares of the transportation company’s stock valued at $665,000 after acquiring an additional 7,941 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in JetBlue Airways by 4.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 57,508 shares of the transportation company’s stock worth $860,000 after acquiring an additional 2,320 shares during the period. Natixis Advisors L.P. raised its position in shares of JetBlue Airways by 10.2% in the 1st quarter. Natixis Advisors L.P. now owns 20,552 shares of the transportation company’s stock worth $307,000 after acquiring an additional 1,902 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of JetBlue Airways during the 1st quarter valued at about $1,117,000. Institutional investors and hedge funds 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.