JetBlue Airways (NASDAQ:JBLU) Stock Bumped Up to Neutral by Citigroup

Citigroup upgraded shares of JetBlue Airways (NASDAQ:JBLU) from a sell rating to a neutral rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. Citigroup currently has $4.50 target price on the transportation company’s stock, down from their previous target price of $5.30.

Several other equities research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Friday, July 17th. The Goldman Sachs Group lifted their target price on shares of JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a report on Thursday, July 2nd. Bank of America upped their price target on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 1st. UBS Group lowered their price target on JetBlue Airways from $5.00 to $4.00 and set a “sell” rating for the company in a report on Thursday, September 10th. Finally, Wall Street Zen lowered JetBlue Airways from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Eight equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $5.20.

JetBlue Airways Stock Performance

JetBlue Airways stock opened at $4.03 on Tuesday. The stock’s 50-day moving average is $4.91 and its 200-day moving average is $5.06. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -1.69 and a beta of 1.77. The company has a debt-to-equity ratio of 5.04, a current ratio of 0.70 and a quick ratio of 0.63. JetBlue Airways has a 12 month low of $3.87 and a 12 month high of $6.62.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.03. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.69 billion. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) EPS. Equities analysts anticipate that JetBlue Airways will post -2.42 earnings per share for the current year.

Insider Transactions at JetBlue Airways

In other news, CFO Ursula Hurley sold 77,253 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the transaction, the chief financial officer directly owned 211,099 shares of the company’s stock, valued at approximately $1,215,930.24. The trade was a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 83,253 shares of company stock valued at $474,477 over the last three months. 2.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantinno Capital Management LP grew its position in shares of JetBlue Airways by 509.5% during the first quarter. Quantinno Capital Management LP now owns 649,600 shares of the transportation company’s stock worth $2,871,000 after buying an additional 543,017 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of JetBlue Airways in the second quarter worth $20,022,000. WINTON GROUP Ltd raised its holdings in JetBlue Airways by 95.6% in the second quarter. WINTON GROUP Ltd now owns 553,212 shares of the transportation company’s stock valued at $3,170,000 after acquiring an additional 270,358 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in JetBlue Airways during the 2nd quarter valued at $6,890,000. Finally, GSA Capital Partners LLP bought a new position in JetBlue Airways during the 2nd quarter valued at $1,725,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

JetBlue Airways Corp. (NASDAQ:JBLU) is a passenger airline that provides scheduled air transportation in the United States, the Caribbean, Latin America and select destinations in Canada and Europe. The company serves leisure and business travelers through a network centered on major U.S. airports, including New York, Boston, Fort Lauderdale and Orlando.

JetBlue offers multiple travel products, including its core economy service and premium Mint cabins on select routes. Its onboard offerings have included complimentary snacks and beverages, seatback entertainment, Wi-Fi and additional-legroom seating options marketed as Even More Space.