JetBlue Airways (NASDAQ:JBLU) Shares Up 9.9% – Time to Buy?

JetBlue Airways Co. (NASDAQ:JBLU) rose 9.9% during mid-day trading on Friday . The company traded as high as $6.94 and last traded at $6.95. Approximately 6,723,207 shares traded hands during trading, a decline of 73% from the average daily volume of 24,719,965 shares. The stock had previously closed at $6.32.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on JBLU shares. Bank of America reissued an “underperform” rating and issued a $6.50 price target on shares of JetBlue Airways in a report on Friday, January 17th. UBS Group decreased their price target on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating for the company in a research report on Wednesday. Evercore ISI upped their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Morgan Stanley reissued an “equal weight” rating and set a $8.00 price objective on shares of JetBlue Airways in a report on Wednesday, December 11th. Finally, StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.69.

JetBlue Airways Stock Up 10.4 %

The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18. The stock’s fifty day simple moving average is $7.19 and its 200-day simple moving average is $6.43. The stock has a market cap of $2.42 billion, a P/E ratio of -2.98 and a beta of 1.84.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.29% and a negative net margin of 8.57%. During the same period in the prior year, the business posted ($0.19) EPS. On average, research analysts anticipate that JetBlue Airways Co. will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors have recently modified their holdings of the company. Bogart Wealth LLC lifted its position in JetBlue Airways by 1,951.2% in the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 4,000 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of JetBlue Airways during the third quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of JetBlue Airways during the second quarter worth approximately $34,000. Blue Trust Inc. grew its holdings in JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after buying an additional 2,538 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in JetBlue Airways in the 4th quarter valued at approximately $40,000. Institutional investors own 83.71% of the company’s stock.

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.