Jet2 (LON:JET2) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Shares of Jet2 plc (LON:JET2) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of GBX 1,441.94 and traded as high as GBX 1,479. Jet2 shares last traded at GBX 1,464, with a volume of 488,083 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on JET2. Canaccord Genuity Group upped their price objective on shares of Jet2 from GBX 1,750 to GBX 1,800 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Royal Bank Of Canada raised their target price on Jet2 from GBX 1,800 to GBX 1,900 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. 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 set a GBX 1,256 price target 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 issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,616.57.

Jet2 Price Performance

The business has a 50 day moving average of GBX 1,441.94 and a 200 day moving average of GBX 1,315.74. The company has a market cap of £2.62 billion, a PE ratio of 6.98, a price-to-earnings-growth ratio of 9.34 and a beta of 1.23. 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 declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 8th that authorizes the company to buy back shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Share buyback plans are often a sign that the company’s management believes its shares are undervalued.

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.