Citigroup Forecasts Strong Price Appreciation for JetBlue Airways (NASDAQ:JBLU) Stock

JetBlue Airways (NASDAQ:JBLU) had its price target lifted by equities researchers at Citigroup from $6.85 to $7.60 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Citigroup’s price target would suggest a potential upside of 1.88% from the stock’s current price.

JBLU has been the subject of several other research reports. TD Cowen raised their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. UBS Group reaffirmed a “sell” rating and set a $5.00 price target on shares of JetBlue Airways in a research report on Tuesday, November 26th. Bank of America raised JetBlue Airways from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Susquehanna increased their target price on shares of JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $8.00 price target on shares of JetBlue Airways in a research report on Wednesday, December 11th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, JetBlue Airways currently has an average rating of “Hold” and a consensus price target of $6.55.

JetBlue Airways Stock Up 2.2 %

NASDAQ:JBLU traded up $0.16 on Wednesday, hitting $7.46. The stock had a trading volume of 3,731,876 shares, compared to its average volume of 15,985,355. The stock has a market cap of $2.59 billion, a P/E ratio of -2.96 and a beta of 1.92. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. The firm’s fifty day simple moving average is $6.59 and its two-hundred day simple moving average is $6.03. JetBlue Airways has a 1 year low of $4.49 and a 1 year high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.39) EPS. Analysts predict that JetBlue Airways will post -0.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of JBLU. Dimensional Fund Advisors LP grew its position in JetBlue Airways by 3.0% during 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 last quarter. American Century Companies Inc. boosted its stake in JetBlue Airways by 16.4% during the 2nd quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock valued at $48,970,000 after purchasing an additional 1,135,217 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of JetBlue Airways by 13.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock worth $37,141,000 after purchasing an additional 663,865 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of JetBlue Airways by 715.3% during the second quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock valued at $9,930,000 after purchasing an additional 1,430,622 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in JetBlue Airways by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 1,289,237 shares of the transportation company’s stock worth $8,457,000 after buying an additional 65,660 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

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.