Jet2 plc (LON:JET2) Receives Average Recommendation of “Moderate Buy” from Brokerages

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

A number of research analysts have weighed in on the company. 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 report on Tuesday, May 5th. Canaccord Genuity Group cut their price objective on shares of Jet2 from GBX 1,900 to GBX 1,750 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,800 price objective on shares of Jet2 in a research report on Wednesday, April 29th. UBS Group reaffirmed a “buy” rating and set a GBX 1,660 target price on shares of Jet2 in a report on Friday, July 3rd. Finally, Royal Bank Of Canada upped their target price on shares of Jet2 from GBX 1,800 to GBX 1,900 and gave the stock an “outperform” rating in a report on Thursday, July 9th.

Jet2 Price Performance

Jet2 stock opened at GBX 1,530 on Friday. Jet2 has a one year low of GBX 980 and a one year high of GBX 1,676. The business has a fifty day moving average price of GBX 1,449.32 and a 200-day moving average price of GBX 1,272.79. The company has a debt-to-equity ratio of 62.09, a current ratio of 1.36 and a quick ratio of 1.49. The firm has a market capitalization of £2.75 billion, a P/E ratio of 7.35, a PEG ratio of 9.34 and a beta of 1.18.

Jet2 (LON:JET2) last released its quarterly earnings data 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 will post 170.9134615 EPS for the current year.

Jet2 declared that its board has approved a share repurchase plan on Wednesday, July 8th that permits the company to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Jet2

In related news, insider Gary Brown sold 26,143 shares of the stock in a transaction on Friday, July 17th. The stock was sold at an average price of GBX 1,475, for a total value of £385,609.25. Also, insider Stephen Heapy sold 34,241 shares of Jet2 stock in a transaction on Friday, July 17th. The shares were sold at an average price of GBX 1,475, for a total value of £505,054.75. In the last ninety days, insiders sold 87,558 shares of company stock worth $129,148,050. Insiders own 22.58% 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.