JetBlue Airways (NASDAQ:JBLU) Lifted to “Neutral” at JPMorgan Chase & Co.

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

A number of other research firms have also weighed in on JBLU. Barclays began coverage on JetBlue Airways in a report on Wednesday, March 27th. They set an underweight rating and a $6.00 target price for the company. UBS Group began coverage on JetBlue Airways in a report on Wednesday, March 20th. They set a sell rating and a $5.00 target price for the company. Evercore ISI upped their target price on JetBlue Airways from $5.00 to $8.00 and gave the stock an in-line rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upgraded JetBlue Airways from a hold rating to a buy rating and upped their target price for the stock from $4.00 to $9.00 in a report on Tuesday, February 20th. Finally, Susquehanna upped their target price on JetBlue Airways from $5.00 to $6.00 and gave the stock a neutral rating in a report on Tuesday, April 9th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $5.86.

JetBlue Airways Stock Performance

JBLU opened at $7.11 on Thursday. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -7.56 and a beta of 1.86. The stock’s 50 day moving average price is $6.94 and its 200-day moving average price is $5.61. JetBlue Airways has a one year low of $3.42 and a one year high of $9.45. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.57 and a current ratio of 0.60.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, January 30th. The transportation company reported ($0.19) earnings per share (EPS) 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 company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the prior year, the firm earned $0.22 earnings per share. JetBlue Airways’s revenue was down 3.7% compared to the same quarter last year. On average, equities analysts forecast that JetBlue Airways will post -0.72 EPS for the current year.

Hedge Funds Weigh In On JetBlue Airways

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JBLU. Raymond James & Associates raised its stake in JetBlue Airways by 162.3% in the 1st quarter. Raymond James & Associates now owns 174,219 shares of the transportation company’s stock worth $2,605,000 after acquiring an additional 107,791 shares during the last quarter. American Century Companies Inc. raised its stake in JetBlue Airways by 21.7% in the 1st quarter. American Century Companies Inc. now owns 44,471 shares of the transportation company’s stock worth $665,000 after acquiring an additional 7,941 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in JetBlue Airways by 4.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 57,508 shares of the transportation company’s stock worth $860,000 after acquiring an additional 2,320 shares during the last quarter. Natixis Advisors L.P. raised its stake in JetBlue Airways by 10.2% in the 1st quarter. Natixis Advisors L.P. now owns 20,552 shares of the transportation company’s stock worth $307,000 after acquiring an additional 1,902 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in JetBlue Airways in the 1st quarter worth $1,117,000. Hedge funds and other institutional investors 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.