Jet2 plc (LON:JET2) Given Average Rating of “Moderate Buy” by Analysts

Shares of Jet2 plc (LON:JET2) have received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is GBX 1,638.14.

Several brokerages have recently commented on JET2. JPMorgan Chase & Co. reduced their target price on Jet2 from GBX 1,300 to GBX 1,200 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Canaccord Genuity Group cut their price target on Jet2 from GBX 1,900 to GBX 1,750 and set a “buy” rating on the stock in a report on Wednesday, July 8th. UBS Group reissued a “buy” rating and issued a GBX 1,660 price objective on shares of Jet2 in a research note on Friday, July 3rd. Royal Bank Of Canada boosted their price objective on Jet2 from GBX 1,800 to GBX 1,900 and gave the company an “outperform” rating in a report on Thursday, July 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,800 target price on shares of Jet2 in a research report on Wednesday, April 29th.

Jet2 Trading Down 2.3%

LON JET2 opened at GBX 1,546 on Tuesday. The business has a 50 day simple moving average of GBX 1,353.64 and a 200 day simple moving average of GBX 1,242.79. Jet2 has a one year low of GBX 980 and a one year high of GBX 1,676. The stock has a market capitalization of £2.79 billion, a P/E ratio of 6.60, a P/E/G ratio of 9.34 and a beta of 1.16. The company has a debt-to-equity ratio of 62.09, a current ratio of 1.36 and a quick ratio of 1.49.

Jet2 (LON:JET2) last issued its quarterly earnings results on Wednesday, July 8th. The company reported GBX 211.20 earnings per share (EPS) for the quarter. Jet2 had a return on equity of 19.92% and a net margin of 5.49%. Research analysts expect that Jet2 will post 170.9134615 earnings per share for the current year.

Jet2 announced that its board has authorized a share buyback program on Wednesday, July 8th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Jet2

In other news, insider Gary Brown sold 11,765 shares of the stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of GBX 1,475, for a total value of £173,533.75. Also, insider Stephen Heapy sold 15,409 shares of Jet2 stock in a transaction that occurred on Friday, July 17th. The shares were sold at an average price of GBX 1,475, for a total value of £227,282.75. Over the last three months, insiders sold 87,558 shares of company stock valued at $129,148,050. Company insiders own 22.48% of the company’s stock.

Jet2 Company Profile

Jet2 plc is a leading leisure travel group, specialising in friendly low fares from its award-winning airline, Jet2.com, and package holidays you can trust from the UK’s largest package holiday provider, Jet2holidays.
Jet2.com is the UK’s third largest airline, flying from 12 UK airports to over 70 destinations across Europe and beyond and Jet2holidays is the UK’s largest tour operator.