JetBlue Airways (NASDAQ:JBLU) Upgraded by Seaport Research Partners to Buy Rating

JetBlue Airways (NASDAQ:JBLU) was upgraded by investment analysts at Seaport Research Partners from a “neutral” rating to a “buy” rating in a report issued on Thursday,Finviz reports. The brokerage currently has a $8.00 price objective on the transportation company’s stock. Seaport Research Partners’ price target points to a potential upside of 41.34% from the company’s previous close.

Several other equities analysts also recently commented on the stock. The Goldman Sachs Group lowered their target price on shares of JetBlue Airways from $4.00 to $3.50 and set a “sell” rating on the stock in a research report on Wednesday, April 1st. TD Cowen upgraded JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. UBS Group decreased their target price on JetBlue Airways from $4.00 to $3.50 and set a “sell” rating for the company in a research note on Monday, March 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a research report on Thursday, January 22nd. Finally, Evercore lifted their target price on JetBlue Airways from $5.00 to $6.00 and gave the stock an “in-line” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, JetBlue Airways currently has an average rating of “Reduce” and an average target price of $4.88.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $5.66 on Thursday. The company’s fifty day moving average is $5.03 and its two-hundred day moving average is $4.82. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 3.65. JetBlue Airways has a 12-month low of $3.34 and a 12-month high of $6.50. The company has a market cap of $2.11 billion, a P/E ratio of -3.39 and a beta of 1.75.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.04). JetBlue Airways had a negative return on equity of 25.62% and a negative net margin of 6.64%.The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the business posted ($0.21) earnings per share. JetBlue Airways’s revenue was down 1.4% on a year-over-year basis. Equities analysts expect that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JBLU. Rockefeller Capital Management L.P. increased its position in JetBlue Airways by 157.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 3,373 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 purchasing an additional 5,049 shares during the last quarter. Kestra Advisory Services LLC bought a new position in JetBlue Airways in the 4th quarter worth approximately $30,000. Leonteq Securities AG acquired a new position in JetBlue Airways during the 4th quarter worth $32,000. Finally, Bogart Wealth LLC lifted its holdings in JetBlue Airways by 12,727.3% during the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after buying an additional 7,000 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

About JetBlue Airways

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.