JetBlue Airways (NASDAQ:JBLU) Upgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. upgraded shares of JetBlue Airways (NASDAQ:JBLU) from an underweight rating to a neutral rating in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has $7.00 price target on the transportation company’s stock.

Several other equities analysts also recently commented on the company. Bank of America downgraded JetBlue Airways from a neutral rating to an underperform rating and dropped their target price for the company from $6.00 to $3.00 in a research report on Tuesday, January 9th. Susquehanna increased their target price on JetBlue Airways from $5.00 to $6.00 and gave the company a neutral rating in a research report on Tuesday, April 9th. Barclays assumed coverage on JetBlue Airways in a research report on Wednesday, March 27th. They set an underweight rating and a $6.00 price objective for the company. UBS Group assumed coverage on JetBlue Airways in a research report on Wednesday, March 20th. They set a sell rating and a $5.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded JetBlue Airways from a hold rating to a buy rating and raised their price objective for the stock from $4.00 to $9.00 in a research report on Tuesday, February 20th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $5.86.

JetBlue Airways Price Performance

JBLU opened at $7.11 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.60 and a quick ratio of 0.57. JetBlue Airways has a 52-week low of $3.42 and a 52-week high of $9.45. The business’s fifty day moving average is $6.91 and its 200-day moving average is $5.59.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, January 30th. The transportation company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.10. JetBlue Airways had a negative return on equity of 4.41% and a negative net margin of 3.23%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the company earned $0.22 EPS. JetBlue Airways’s revenue for the quarter was down 3.7% on a year-over-year basis. Sell-side analysts forecast that JetBlue Airways will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in JetBlue Airways in the first quarter valued at approximately $25,000. Performa Ltd US LLC grew its stake in JetBlue Airways by 96.6% in the third quarter. Performa Ltd US LLC now owns 5,700 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 2,800 shares during the period. GAMMA Investing LLC grew its stake in JetBlue Airways by 169.8% in the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 2,377 shares during the period. Signaturefd LLC grew its stake in JetBlue Airways by 72.8% in the third quarter. Signaturefd LLC now owns 6,531 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 2,751 shares during the period. Finally, Quarry LP acquired a new stake in JetBlue Airways in the first quarter valued at approximately $32,000. Institutional investors and hedge funds 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.