JetBlue Airways (NASDAQ:JBLU) Reaches New 1-Year High - Time to Buy?

Key Points

• JetBlue shares reached a new 52-week high of $6.54 and were recently trading 4.2% higher, giving the airline a market capitalization of approximately $2.45 billion.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $5.54, below its recent trading price. Ratings include one Strong Buy, six Holds and five Sells.
• JetBlue slightly exceeded quarterly expectations with a $0.66 loss per share versus the projected $0.69 loss, while revenue rose 14.5% year over year to $2.70 billion. However, the company reported negative profitability metrics, high leverage, and insiders sold more than 111,000 shares over the past 90 days.

JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $6.54 and last traded at $6.4350, with a volume of 2555820 shares. The stock had previously closed at $6.23.

Analysts Set New Price Targets

Several research firms recently issued reports on JBLU. Raymond James Financial restated an "underperform" rating on shares of JetBlue Airways in a research note on Monday, July 6th. Wall Street Zen upgraded shares of JetBlue Airways from a "strong sell" rating to a "sell" rating in a report on Saturday, May 23rd. Susquehanna raised their price objective on JetBlue Airways from $5.00 to $6.00 and gave the company a "neutral" rating in a research report on Tuesday, July 7th. Citigroup upped their price target on shares of JetBlue Airways from $4.40 to $6.60 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Finally, Bank of America boosted their price target on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, JetBlue Airways has an average rating of "Reduce" and an average price target of $5.54.

JetBlue Airways Trading Up 4.2%

The company has a 50 day moving average of $5.48 and a two-hundred day moving average of $5.20. The stock has a market capitalization of $2.45 billion, a PE ratio of -2.71 and a beta of 1.73. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 0.70.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its earnings results on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.03. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The company's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Sell-side analysts predict that JetBlue Airways Corporation will post -2.33 EPS for the current year.

Insider Buying and Selling at JetBlue Airways

In other news, Director Vivek Sharma sold 32,000 shares of JetBlue Airways stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total value of $173,120.00. Following the transaction, the director directly owned 35,479 shares of the company's stock, valued at $191,941.39. The trade was a 47.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ursula L. Hurley sold 77,253 shares of the firm'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 completion of the sale, the chief financial officer owned 211,099 shares of the company's stock, valued at approximately $1,215,930.24. The trade was a 26.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 111,253 shares of company stock valued at $629,597. Company insiders own 2.41% of the company's stock.

Institutional Trading of JetBlue Airways

A number of institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in JetBlue Airways by 131.2% during the 1st quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company's stock worth $436,000 after buying an additional 51,377 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of JetBlue Airways by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company's stock worth $896,000 after purchasing an additional 8,053 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in JetBlue Airways by 6.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company's stock worth $23,085,000 after purchasing an additional 274,892 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of JetBlue Airways during the first quarter worth $106,000. Finally, Cetera Investment Advisers raised its holdings in JetBlue Airways by 10.7% in the second quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company's stock worth $130,000 after purchasing an additional 2,954 shares during the period. 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.

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