JetBlue Airways (NASDAQ:JBLU) Trading Up 8.6% - Time to Buy?

JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report)'s share price was up 8.6% during trading on Tuesday . The stock traded as high as $5.37 and last traded at $5.36. Approximately 23,133,935 shares traded hands during mid-day 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

Several equities analysts have commented on JBLU shares. UBS Group dropped their price target on shares of JetBlue Airways from $5.00 to $3.00 and set a "sell" rating on the stock in a research note on Monday, April 7th. Deutsche Bank Aktiengesellschaft lowered shares of JetBlue Airways from a "buy" rating to a "hold" rating and lowered their target price for the stock from $9.00 to $7.00 in a research report on Tuesday, March 4th. Bank of America lowered their target price on shares of JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Wall Street Zen upgraded shares of JetBlue Airways to a "sell" rating in a research report on Thursday, May 15th. Finally, Raymond James lowered shares of JetBlue Airways from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $5.16.

JetBlue Airways Trading Up 1.0%

The company has a quick ratio of 1.18, a current ratio of 1.10 and a debt-to-equity ratio of 3.08. The company has a fifty day moving average of $4.46 and a two-hundred day moving average of $5.97. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -2.18 and a beta of 1.79.

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

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in JetBlue Airways by 130.8% in the fourth quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company's stock valued at $35,000 after acquiring an additional 2,538 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in JetBlue Airways in the fourth quarter valued at $40,000. GW Henssler & Associates Ltd. acquired a new stake in JetBlue Airways in the first quarter valued at $52,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in JetBlue Airways in the first quarter valued at $53,000. Finally, Bogart Wealth LLC lifted its holdings in JetBlue Airways by 67.8% in the fourth quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company's stock valued at $55,000 after acquiring an additional 2,850 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

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.