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

JetBlue Airways (NASDAQ:JBLU) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports. The firm currently has a $7.00 target price on the transportation company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 2.49% from the company’s current price.

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

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $6.83 on Thursday. The company’s fifty day simple moving average is $6.89 and its 200-day simple moving average is $5.58. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.32. The firm has a market cap of $2.32 billion, a PE ratio of -7.27 and a beta of 1.86. JetBlue Airways has a 12 month low of $3.42 and a 12 month high of $9.45.

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

Institutional Inflows and Outflows

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