JetBlue Airways (NASDAQ:JBLU) Shares Up 9.1% - What's Next?

Key Points

• JetBlue Airways shares surged 9.1% on Tuesday, closing at $4.97, after trading as high as $5.01.
• Brokerages have set new price targets for JetBlue, with many assigning a target around $5.00 and several analysts recommending a "neutral" rating.
• The company recently reported earnings, beating expectations with $2.36 billion in revenue and an EPS of ($0.16) against a consensus estimate of ($0.31).

Shares of JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report) shot up 9.1% on Tuesday . The company traded as high as $5.01 and last traded at $4.97. 22,802,263 shares were traded during mid-day trading, a decline of 1% from the average session volume of 23,041,408 shares. The stock had previously closed at $4.55.

Analysts Set New Price Targets

A number of brokerages have weighed in on JBLU. Susquehanna lifted their target price on JetBlue Airways from $4.00 to $5.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. Citigroup set a $5.00 target price on JetBlue Airways and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of JetBlue Airways in a report on Wednesday, October 8th. TD Cowen lifted their target price on JetBlue Airways from $4.00 to $5.00 and gave the stock a "hold" rating in a report on Monday, September 8th. Finally, UBS Group lifted their target price on JetBlue Airways from $3.00 to $4.00 and gave the stock a "sell" rating in a report on Friday, September 5th. Seven investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, JetBlue Airways presently has a consensus rating of "Reduce" and a consensus target price of $5.28.

JetBlue Airways Stock Performance

The company has a market cap of $1.78 billion, a PE ratio of -4.50 and a beta of 1.82. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 3.21. The company has a 50-day moving average of $4.98 and a 200-day moving average of $4.63.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its earnings results on Tuesday, July 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.15. JetBlue Airways had a negative return on equity of 15.59% and a negative net margin of 4.22%.The company had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $2.26 billion. As a group, analysts anticipate that JetBlue Airways Corporation will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. HUB Investment Partners LLC purchased a new position in JetBlue Airways in the second quarter worth $45,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of JetBlue Airways during the 2nd quarter worth $47,000. Ballentine Partners LLC bought a new position in shares of JetBlue Airways during the 2nd quarter worth $48,000. Alpha Wealth Funds LLC bought a new position in shares of JetBlue Airways during the 2nd quarter worth $51,000. Finally, Rafferty Asset Management LLC bought a new position in shares of JetBlue Airways during the 2nd quarter worth $51,000. Hedge funds and other institutional investors own 83.71% of the company's stock.

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.

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