JetBlue Airways (NASDAQ:JBLU) Price Target Raised to $4.00

Key Points

• Bank of America raised JetBlue Airways’ price target from $3.50 to $4.00, while keeping an underperform rating on the stock. The new target still implies roughly 30.5% downside from the previous close.
• Analyst opinions remain mixed: some firms recently lifted targets or ratings, but the overall consensus is still “Reduce” with a consensus price target of $5.11.
• JetBlue shares were up 0.4% to $5.75, but the company’s latest earnings missed estimates, reporting -$0.87 EPS versus an expected -$0.72, even as revenue matched forecasts at $2.24 billion.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) had its target price raised by equities research analysts at Bank of America from $3.50 to $4.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "underperform" rating on the transportation company's stock. Bank of America's target price would indicate a potential downside of 30.50% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Susquehanna increased their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. Citigroup lifted their target price on JetBlue Airways from $4.40 to $6.60 and gave the company a "neutral" rating in a research note on Friday, June 26th. The Goldman Sachs Group reiterated a "sell" rating and set a $3.50 price target on shares of JetBlue Airways in a research report on Monday, June 1st. TD Cowen raised JetBlue Airways from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 10th. Finally, Wall Street Zen upgraded JetBlue Airways from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, JetBlue Airways currently has a consensus rating of "Reduce" and a consensus target price of $5.11.

JetBlue Airways Stock Up 0.4%

JBLU stock traded up $0.03 during mid-day trading on Wednesday, hitting $5.75. 3,849,074 shares of the company were exchanged, compared to its average volume of 25,246,355. The firm has a fifty day simple moving average of $5.13 and a 200 day simple moving average of $5.06. The company has a market capitalization of $2.14 billion, a PE ratio of -2.96 and a beta of 1.73. JetBlue Airways has a twelve month low of $3.87 and a twelve month high of $6.50. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 4.25.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.15). JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the business earned ($0.59) earnings per share. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts forecast that JetBlue Airways will post -2.67 earnings per share for the current fiscal year.

Insider Buying and Selling at JetBlue Airways

In other JetBlue Airways news, Director Vivek Sharma sold 32,000 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the completion of the sale, the director directly owned 35,479 shares in the company, valued at $191,941.39. This represents a 47.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas Winkelmann sold 35,473 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $4.70, for a total value of $166,723.10. Following the transaction, the director directly owned 13,379 shares of the company's stock, valued at $62,881.30. This represents a 72.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.41% of the stock is owned by insiders.

Hedge Funds Weigh In On JetBlue Airways

Large investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. increased its stake in JetBlue Airways by 157.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company's stock worth $25,000 after purchasing an additional 3,373 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake 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 in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of JetBlue Airways in the fourth quarter worth about $30,000. Leonteq Securities AG acquired a new position in shares of JetBlue Airways in the fourth quarter worth about $32,000. Finally, Essential Partners LLC increased its position in shares of JetBlue Airways by 1,048.5% in the first quarter. Essential Partners LLC now owns 7,293 shares of the transportation company's stock worth $32,000 after acquiring an additional 6,658 shares in the last quarter. Institutional investors own 83.71% of the company's stock.

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.

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