Jet2 (LON:JET2) Stock Jumps 3.6% – What’s Next?

Jet2 plc (LON:JET2)’s stock price traded up 3.6% on Monday. The stock traded as high as GBX 1,479 and last traded at GBX 1,464. Approximately 488,083 shares changed hands during trading, a decline of 79% from the average daily volume of 2,287,766 shares. The stock had previously closed at GBX 1,413.

Wall Street Analyst Weigh In

Several analysts have issued reports on JET2 shares. Royal Bank Of Canada lifted their price target on Jet2 from GBX 1,800 to GBX 1,900 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Canaccord Genuity Group boosted their price objective on shares of Jet2 from GBX 1,750 to GBX 1,800 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Jefferies Financial Group restated a “buy” rating and set a GBX 1,800 target price 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 target price on shares of Jet2 in a research report on Friday, September 4th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Jet2 currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,616.57.

Jet2 Stock Performance

The stock has a market capitalization of £2.65 billion, a P/E ratio of 7.07, a P/E/G ratio of 9.34 and a beta of 1.23. The stock has a 50 day simple moving average of GBX 1,438.77 and a two-hundred day simple moving average of GBX 1,317.40. The company has a quick ratio of 1.49, a current ratio of 1.36 and a debt-to-equity ratio of 62.09.

Jet2 announced that its Board of Directors has initiated a share repurchase program on Wednesday, July 8th that authorizes the company to buy back outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.