JetBlue Airways (NASDAQ:JBLU) Stock Price Up 7.4% - Time to Buy?

Key Points

• JetBlue Airways shares rose 7.4% on Friday, trading as high as $5.27 and closing near $5.36, with volume below its average daily level.
• Despite the pop, analyst sentiment remains cautious: the stock carries an average rating of "Reduce" with an average target price of $5.31, and several firms still rate it Sell or Underperform.
• JetBlue posted a wider-than-expected quarterly loss of ($0.87) per share versus estimates for a $0.72 loss, while revenue of $2.24 billion matched expectations and rose 4.7% year over year.

JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report)'s share price traded up 7.4% on Friday . The stock traded as high as $5.27 and last traded at $5.3610. 9,744,177 shares traded hands during trading, a decline of 62% from the average daily volume of 25,731,662 shares. The stock had previously closed at $4.99.

Analyst Ratings Changes

JBLU has been the topic of several research reports. UBS Group upped their price objective on JetBlue Airways from $4.00 to $4.50 and gave the company a "sell" rating in a research note on Tuesday, June 23rd. Susquehanna boosted their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a "neutral" rating in a report on Tuesday, July 7th. Wall Street Zen upgraded JetBlue Airways from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 23rd. Raymond James Financial reiterated an "underperform" rating on shares of JetBlue Airways in a research note on Monday, July 6th. Finally, Bank of America increased their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock an "underperform" rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $5.31.

JetBlue Airways Stock Performance

The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -2.74 and a beta of 1.73. The company has a debt-to-equity ratio of 4.25, a quick ratio of 0.64 and a current ratio of 0.70. The company's 50 day simple moving average is $5.33 and its 200 day simple moving average is $5.16.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company posted ($0.59) earnings per share. The company's revenue was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that JetBlue Airways Corporation will post -2.39 earnings per share for the current year.

Insider Transactions at JetBlue Airways

In other news, Director Vivek Sharma sold 32,000 shares of JetBlue Airways stock in a transaction that occurred 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. This trade represents a 47.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas Winkelmann sold 35,473 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $4.70, for a total transaction of $166,723.10. Following the sale, the director owned 13,379 shares in the company, valued at $62,881.30. This represents a 72.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.41% of the company's stock.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its position in shares of JetBlue Airways by 157.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company's stock worth $25,000 after buying an additional 3,373 shares during the period. Caitong International Asset Management Co. Ltd raised its position 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 during the period. Kestra Advisory Services LLC purchased a new stake in JetBlue Airways in the 4th quarter worth about $30,000. Leonteq Securities AG purchased a new stake in JetBlue Airways in the 4th quarter worth about $32,000. Finally, Essential Partners LLC boosted its position in JetBlue Airways by 1,048.5% during the 1st 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 during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

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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