JetBlue Airways (NASDAQ:JBLU) Upgraded by Raymond James to Outperform Rating

Raymond James upgraded shares of JetBlue Airways (NASDAQ:JBLU) from a market perform rating to an outperform rating in a research note issued to investors on Monday, MarketBeat reports. They currently have $5.00 price target on the transportation company’s stock.

A number of other research analysts have also recently commented on JBLU. Bank of America dropped their target price on shares of JetBlue Airways from $5.25 to $4.25 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Seaport Res Ptn cut JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft downgraded JetBlue Airways from a “buy” rating to a “hold” rating and cut their price objective for the company from $9.00 to $7.00 in a report on Tuesday, March 4th. Susquehanna dropped their target price on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group reduced their price target on JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a report on Wednesday, January 29th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.70.

JetBlue Airways Stock Up 2.8 %

Shares of JBLU opened at $4.05 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. JetBlue Airways has a 12 month low of $3.61 and a 12 month high of $8.31. The firm’s 50 day moving average is $5.99 and its 200-day moving average is $6.60. The stock has a market capitalization of $1.44 billion, a PE ratio of -1.73 and a beta of 1.69.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same quarter in the previous year, the business earned ($0.19) earnings per share. Equities research analysts forecast that JetBlue Airways will post -0.69 EPS for the current year.

Insider Buying and Selling at JetBlue Airways

In other JetBlue Airways news, Director Nik Mittal acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $6.14 per share, with a total value of $614,000.00. Following the purchase, the director now directly owns 116,443 shares of the company’s stock, valued at $714,960.02. This trade represents a 608.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ursula L. Hurley sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total value of $112,500.00. Following the sale, the chief financial officer now directly owns 41,833 shares of the company’s stock, valued at $313,747.50. This represents a 26.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On JetBlue Airways

A number of institutional investors and hedge funds have recently modified their holdings of the business. Entropy Technologies LP bought a new stake in shares of JetBlue Airways in the 4th quarter valued at $787,000. Raymond James Financial Inc. bought a new stake in JetBlue Airways in the fourth quarter valued at $1,796,000. Intech Investment Management LLC increased its stake in JetBlue Airways by 71.7% in the fourth quarter. Intech Investment Management LLC now owns 119,072 shares of the transportation company’s stock valued at $936,000 after purchasing an additional 49,712 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of JetBlue Airways by 8.3% during the fourth quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company’s stock valued at $10,977,000 after purchasing an additional 107,293 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of JetBlue Airways in the 4th quarter valued at about $432,000. 83.71% of the stock is currently owned by 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.