JetBlue Airways (NASDAQ:JBLU) Shares Up 9.5% - Time to Buy?

Key Points

• JetBlue Airways shares rose 9.5% to $4.68, despite a significant decrease in trading volume compared to the average.
• Analysts generally maintain a consensus rating of "Hold" for JetBlue, with price targets ranging from $3.00 to $5.00.
• The company reported a quarterly revenue of $2.36 billion and surpassed earnings expectations, though it showed a negative return on equity of 15.59%.

JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report) shot up 9.5% during trading on Tuesday . The company traded as high as $4.54 and last traded at $4.68. 4,406,024 shares were traded during trading, a decline of 82% from the average session volume of 24,142,592 shares. The stock had previously closed at $4.27.

Analysts Set New Price Targets

JBLU has been the topic of a number of recent research reports. Wall Street Zen raised JetBlue Airways to a "sell" rating in a report on Thursday, May 15th. Susquehanna reissued a "neutral" rating on shares of JetBlue Airways in a report on Tuesday, July 29th. UBS Group set a $3.00 price target on JetBlue Airways and gave the company a "sell" rating in a report on Monday, July 7th. Citigroup set a $5.00 price target on JetBlue Airways and gave the company a "neutral" rating in a report on Tuesday, July 29th. Finally, Barclays reaffirmed an "underweight" rating on shares of JetBlue Airways in a report on Tuesday, July 29th. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.16.

JetBlue Airways Trading Up 10.9%

The company has a market capitalization of $1.72 billion, a PE ratio of -4.30 and a beta of 1.80. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 3.21. The stock has a fifty day moving average of $4.45 and a two-hundred day moving average of $5.01.

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

Hedge Funds Weigh In On JetBlue Airways

Several hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of JetBlue Airways during the second quarter valued at approximately $47,000. Ballentine Partners LLC purchased a new stake in shares of JetBlue Airways in the 2nd quarter worth approximately $48,000. Alpha Wealth Funds LLC purchased a new stake in shares of JetBlue Airways in the 2nd quarter worth approximately $51,000. GW Henssler & Associates Ltd. purchased a new position in JetBlue Airways during the first quarter valued at $52,000. Finally, Patriot Financial Group Insurance Agency LLC purchased a new position in JetBlue Airways during the first quarter valued at $53,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

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.

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