JetBlue Airways (NASDAQ:JBLU) Shares Gap Up – Should You Buy?

JetBlue Airways Co. (NASDAQ:JBLU) shares gapped up prior to trading on Wednesday . The stock had previously closed at $6.06, but opened at $6.36. JetBlue Airways shares last traded at $6.56, with a volume of 13,968,750 shares traded.

Wall Street Analyst Weigh In

JBLU has been the subject of a number of recent analyst reports. TD Cowen raised their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a report on Friday, September 6th. Susquehanna increased their price objective on shares of JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their price target for the company from $3.00 to $6.00 in a research note on Monday, September 9th. UBS Group reaffirmed a “sell” rating and set a $5.00 price objective on shares of JetBlue Airways in a report on Tuesday, November 26th. Finally, Evercore ISI lifted their target price on JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, JetBlue Airways presently has a consensus rating of “Hold” and a consensus target price of $6.43.

JetBlue Airways Stock Up 7.4 %

The firm has a market cap of $2.26 billion, a P/E ratio of -2.67 and a beta of 1.92. The business has a fifty day moving average of $6.54 and a 200 day moving average of $5.93. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 2.98.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.39) EPS. On average, equities research analysts predict that JetBlue Airways Co. will post -0.92 EPS for the current year.

Institutional Trading of JetBlue Airways

Institutional investors and hedge funds have recently bought and sold shares of the stock. Maverick Capital Ltd. boosted its holdings in shares of JetBlue Airways by 136.1% in the 3rd quarter. Maverick Capital Ltd. now owns 245,657 shares of the transportation company’s stock valued at $1,612,000 after buying an additional 141,605 shares during the last quarter. Quantbot Technologies LP grew its position in shares of JetBlue Airways by 56.7% in the 3rd quarter. Quantbot Technologies LP now owns 922,925 shares of the transportation company’s stock valued at $6,054,000 after acquiring an additional 334,032 shares during the period. Jade Capital Advisors LLC increased its stake in shares of JetBlue Airways by 800.0% during the 3rd quarter. Jade Capital Advisors LLC now owns 450,000 shares of the transportation company’s stock worth $2,952,000 after purchasing an additional 400,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of JetBlue Airways by 13.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock valued at $37,141,000 after purchasing an additional 663,865 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new stake in JetBlue Airways in the 3rd quarter valued at about $794,000. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

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.