JetBlue Airways (NASDAQ:JBLU) Shares Gap Up – Still a Buy?

JetBlue Airways Corporation (NASDAQ:JBLU) gapped up prior to trading on Monday . The stock had previously closed at $4.86, but opened at $5.10. JetBlue Airways shares last traded at $5.0250, with a volume of 4,864,413 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on JBLU shares. Susquehanna increased their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Cowen raised shares of JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. BMO Capital Markets started coverage on shares of JetBlue Airways in a research report on Tuesday, March 24th. They issued a “market perform” rating and a $4.50 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a research report on Tuesday, April 21st. Finally, Seaport Research Partners raised shares of JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $4.88.

JetBlue Airways Stock Down 2.6%

The firm has a market cap of $1.76 billion, a P/E ratio of -2.44 and a beta of 1.69. The business’s fifty day moving average price is $4.85 and its two-hundred day moving average price is $4.86. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 4.25.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.24 billion. JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.59) EPS. As a group, equities research analysts anticipate that JetBlue Airways Corporation will post -2.57 EPS for the current year.

Institutional Trading of JetBlue Airways

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp lifted its stake in shares of JetBlue Airways by 2,552.4% in the first quarter. Fifth Third Bancorp now owns 68,590 shares of the transportation company’s stock worth $303,000 after buying an additional 66,004 shares during the last quarter. U S Global Investors Inc. lifted its stake in shares of JetBlue Airways by 17.2% in the first quarter. U S Global Investors Inc. now owns 5,542,536 shares of the transportation company’s stock worth $24,498,000 after buying an additional 813,782 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in shares of JetBlue Airways by 62.1% in the first quarter. Kestra Advisory Services LLC now owns 10,809 shares of the transportation company’s stock worth $48,000 after buying an additional 4,142 shares during the last quarter. Praxis Investment Management Inc. acquired a new stake in shares of JetBlue Airways in the first quarter worth $99,000. Finally, HB Wealth Management LLC acquired a new stake in shares of JetBlue Airways in the first quarter worth $64,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.