JetBlue Airways (NASDAQ:JBLU) Reaches New 1-Year High – Time to Buy?

JetBlue Airways Co. (NASDAQ:JBLU)’s share price reached a new 52-week high on Friday . The stock traded as high as $7.69 and last traded at $7.69, with a volume of 2356528 shares traded. The stock had previously closed at $7.41.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on JBLU. Evercore ISI increased their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. TD Cowen raised their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, September 6th. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research report on Friday, October 11th. Citigroup boosted their price objective on shares of JetBlue Airways from $5.75 to $6.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, JetBlue Airways currently has an average rating of “Hold” and an average target price of $5.80.

JetBlue Airways Trading Up 6.7 %

The stock has a market cap of $2.69 billion, a P/E ratio of -3.18 and a beta of 1.92. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50. The firm’s 50 day moving average price is $5.77 and its 200-day moving average price is $5.92.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.26. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.40 billion. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, equities research analysts forecast that JetBlue Airways Co. will post -0.91 earnings per share for the current year.

Institutional Trading of JetBlue Airways

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of JetBlue Airways during the 1st quarter valued at about $25,000. GAMMA Investing LLC raised its position in JetBlue Airways by 169.8% in the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after purchasing an additional 2,377 shares during the period. Trust Co. of Vermont purchased a new position in JetBlue Airways during the 2nd quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of JetBlue Airways in the second quarter worth about $34,000. Finally, Point72 DIFC Ltd bought a new stake in JetBlue Airways during the 2nd quarter valued at about $48,000. 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.