JetBlue Airways (NASDAQ:JBLU) Shares Gap Up to $6.53

JetBlue Airways Co. (NASDAQ:JBLU - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $6.53, but opened at $6.68. JetBlue Airways shares last traded at $6.89, with a volume of 1,257,203 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently commented on JBLU. Evercore ISI raised their price objective on shares of JetBlue Airways from $5.00 to $8.00 and gave the stock an "in-line" rating in a report on Thursday, April 4th. Bank of America cut JetBlue Airways from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $6.00 to $3.00 in a research report on Tuesday, January 9th. Barclays began coverage on JetBlue Airways in a research note on Wednesday, March 27th. They set an "underweight" rating and a $6.00 price objective on the stock. UBS Group initiated coverage on JetBlue Airways in a research note on Wednesday, March 20th. They issued a "sell" rating and a $5.00 target price for the company. Finally, Susquehanna increased their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a "neutral" rating in a report on Tuesday, April 9th. Six research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $5.75.

JetBlue Airways Trading Up 4.6 %

The stock's 50 day simple moving average is $6.86 and its 200 day simple moving average is $5.57. The firm has a market cap of $2.32 billion, a PE ratio of -7.27 and a beta of 1.86. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.57 and a current ratio of 0.60.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its earnings results on Tuesday, January 30th. The transportation company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.10. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the business earned $0.22 earnings per share. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that JetBlue Airways Co. will post -0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Large investors have recently modified their holdings of the company. Raymond James & Associates grew its position in JetBlue Airways by 162.3% during the first quarter. Raymond James & Associates now owns 174,219 shares of the transportation company's stock valued at $2,605,000 after acquiring an additional 107,791 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of JetBlue Airways by 21.7% in the 1st quarter. American Century Companies Inc. now owns 44,471 shares of the transportation company's stock valued at $665,000 after purchasing an additional 7,941 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of JetBlue Airways by 4.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 57,508 shares of the transportation company's stock valued at $860,000 after purchasing an additional 2,320 shares during the last quarter. Natixis Advisors L.P. raised its position in JetBlue Airways by 10.2% in the 1st quarter. Natixis Advisors L.P. now owns 20,552 shares of the transportation company's stock worth $307,000 after purchasing an additional 1,902 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in JetBlue Airways in the first quarter worth $1,117,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

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.