JetBlue Airways (NASDAQ:JBLU) Trading Up 8.6% - Here's Why

JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report)'s stock price was up 8.6% on Tuesday . The company traded as high as $5.37 and last traded at $5.36. Approximately 23,133,935 shares traded hands during trading, an increase of 15% from the average daily volume of 20,186,099 shares. The stock had previously closed at $4.93.

Analyst Ratings Changes

A number of equities analysts recently weighed in on JBLU shares. Deutsche Bank Aktiengesellschaft lowered shares of JetBlue Airways from a "buy" rating to a "hold" rating and dropped their target price for the stock from $9.00 to $7.00 in a research report on Tuesday, March 4th. UBS Group dropped their target price on shares of JetBlue Airways from $5.00 to $3.00 and set a "sell" rating for the company in a research report on Monday, April 7th. Citigroup upped their target price on shares of JetBlue Airways from $4.25 to $5.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Susquehanna dropped their target price on shares of JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, Wall Street Zen upgraded shares of JetBlue Airways to a "sell" rating in a research report on Thursday, May 15th. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.16.

JetBlue Airways Stock Up 2.5%

The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.18 and a current ratio of 1.10. The business's 50 day moving average is $4.47 and its 200 day moving average is $5.98. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -2.22 and a beta of 1.79.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last posted its earnings results on Tuesday, April 29th. The transportation company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.02. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. The business's quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.43) EPS. Sell-side analysts anticipate that JetBlue Airways Co. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On JetBlue Airways

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in JetBlue Airways by 130.8% during the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company's stock worth $35,000 after purchasing an additional 2,538 shares during the last quarter. R Squared Ltd acquired a new position in JetBlue Airways in the fourth quarter valued at about $58,000. Spire Wealth Management lifted its position in JetBlue Airways by 175.9% in the fourth quarter. Spire Wealth Management now owns 54,470 shares of the transportation company's stock valued at $428,000 after buying an additional 34,729 shares during the last quarter. Empowered Funds LLC lifted its position in JetBlue Airways by 8.3% in the fourth quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company's stock valued at $10,977,000 after buying an additional 107,293 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in JetBlue Airways during the fourth quarter worth about $787,000. 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.