JetBlue Airways (NASDAQ:JBLU) Stock Price Up 6.5% – Here’s Why

JetBlue Airways Co. (NASDAQ:JBLU)’s share price was up 6.5% on Tuesday . The stock traded as high as $8.04 and last traded at $8.14. Approximately 6,079,998 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 15,301,163 shares. The stock had previously closed at $7.64.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JBLU. Evercore ISI raised their target price on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group restated a “sell” rating and issued a $5.50 price objective on shares of JetBlue Airways in a report on Friday, November 15th. Bank of America reaffirmed an “underperform” rating and issued a $6.50 target price on shares of JetBlue Airways in a research report on Friday. UBS Group reissued a “sell” rating and issued a $5.00 price target on shares of JetBlue Airways in a research note on Tuesday, November 26th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $8.00 price objective on shares of JetBlue Airways in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.69.

JetBlue Airways Price Performance

The stock has a fifty day simple moving average of $7.06 and a 200-day simple moving average of $6.36. The company has a market capitalization of $2.77 billion, a PE ratio of -3.18 and a beta of 1.84. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.10. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.39) earnings per share. Equities analysts anticipate that JetBlue Airways Co. will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of JetBlue Airways by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 17,878,115 shares of the transportation company’s stock valued at $108,875,000 after purchasing an additional 521,767 shares during the period. XTX Topco Ltd purchased a new position in shares of JetBlue Airways during the second quarter worth approximately $227,000. AE Wealth Management LLC increased its holdings in shares of JetBlue Airways by 97.4% in the 2nd quarter. AE Wealth Management LLC now owns 27,193 shares of the transportation company’s stock valued at $166,000 after acquiring an additional 13,415 shares during the period. Public Sector Pension Investment Board raised its position in JetBlue Airways by 9.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 748,409 shares of the transportation company’s stock valued at $4,558,000 after purchasing an additional 65,271 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in JetBlue Airways by 20.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 35,012 shares of the transportation company’s stock worth $213,000 after purchasing an additional 5,947 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.