JetBlue Airways (NASDAQ:JBLU) Hits New 1-Year High – What’s Next?

JetBlue Airways Corporation (NASDAQ:JBLU)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $6.54 and last traded at $6.4350, with a volume of 2555820 shares changing hands. The stock had previously closed at $6.23.

Wall Street Analysts Forecast Growth

Several research firms recently commented on JBLU. Citigroup boosted their price objective on shares of JetBlue Airways from $4.40 to $6.60 and gave the company a “neutral” rating in a research report on Friday, June 26th. UBS Group increased their price objective on JetBlue Airways from $4.00 to $4.50 and gave the stock a “sell” rating in a report on Tuesday, June 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Friday, July 17th. Raymond James Financial reiterated an “underperform” rating on shares of JetBlue Airways in a report on Monday, July 6th. Finally, The Goldman Sachs Group boosted their price target on shares of JetBlue Airways from $3.50 to $4.50 and gave the stock a “sell” rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $5.54.

JetBlue Airways Stock Performance

The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -2.66 and a beta of 1.74. The company’s fifty day simple moving average is $5.52 and its 200 day simple moving average is $5.22. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.03. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.69 billion. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. On average, equities research analysts expect that JetBlue Airways Corporation will post -2.33 earnings per share for the current year.

Insider Activity

In other news, CFO Ursula L. Hurley sold 77,253 shares of JetBlue Airways stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $5.76, for a total value of $444,977.28. Following the completion of the sale, the chief financial officer directly owned 211,099 shares in the company, valued at approximately $1,215,930.24. The trade was a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vivek Sharma sold 32,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total value of $173,120.00. Following the completion of the sale, the director owned 35,479 shares of the company’s stock, valued at approximately $191,941.39. This trade represents a 47.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 111,253 shares of company stock worth $629,597 over the last 90 days. 2.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. increased its position in shares of JetBlue Airways by 157.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock worth $25,000 after purchasing an additional 3,373 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of JetBlue Airways by 639.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after acquiring an additional 5,049 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of JetBlue Airways during the 4th quarter worth approximately $30,000. Leonteq Securities AG bought a new position in JetBlue Airways in the fourth quarter valued at approximately $32,000. Finally, Essential Partners LLC increased its stake in JetBlue Airways by 1,048.5% in the first quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 6,658 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

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.