Jet2 (LON:JET2) Stock Price Down 1% – Here’s Why

Jet2 plc (LON:JET2) dropped 1% during trading on Wednesday. The company traded as low as GBX 1,415.96 and last traded at GBX 1,424.96. 379,702 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,312,349 shares. The stock had previously closed at GBX 1,439.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JET2. Canaccord Genuity Group lifted their price objective on shares of Jet2 from GBX 1,750 to GBX 1,800 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Royal Bank Of Canada increased their target price on shares of Jet2 from GBX 1,800 to GBX 1,900 and gave the company an “outperform” rating in a report on Thursday, July 9th. UBS Group reissued a “buy” rating and set a GBX 1,660 price target on shares of Jet2 in a research report on Friday, July 3rd. Jefferies Financial Group restated a “buy” rating and set a GBX 1,800 price target on shares of Jet2 in a report on Friday, September 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 1,256 price objective on shares of Jet2 in a research report on Friday, September 4th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,616.57.

Jet2 Stock Performance

The company has a 50-day simple moving average of GBX 1,493.89 and a two-hundred day simple moving average of GBX 1,332.28. The company has a quick ratio of 1.49, a current ratio of 1.36 and a debt-to-equity ratio of 62.09. The firm has a market cap of £2.53 billion, a PE ratio of 6.76, a PEG ratio of 9.34 and a beta of 1.18.

Jet2 (LON:JET2) last announced its 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%. As a group, equities research analysts forecast that Jet2 plc will post 170.9134615 earnings per share for the current year.

Jet2 declared that its board has authorized a stock buyback plan on Wednesday, July 8th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other Jet2 news, insider Stephen Heapy sold 15,409 shares of Jet2 stock in a transaction dated Friday, July 17th. The shares were sold at an average price of GBX 1,475, for a total value of £227,282.75. Also, insider Gary Brown sold 11,765 shares of the business’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of GBX 1,475, for a total transaction of £173,533.75. In the last ninety days, insiders sold 87,558 shares of company stock worth $129,148,050. Insiders own 22.48% of the company’s stock.

About Jet2

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.