Jet2 plc (LON:JET2) Receives GBX 1,638.14 Average Price Target from Brokerages

Jet2 plc (LON:JET2) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are covering the firm, MarketBeat.com 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 target among brokers that have issued ratings on the stock in the last year is GBX 1,638.14.

Several equities analysts have commented on the company. Royal Bank Of Canada raised their price objective on Jet2 from GBX 1,800 to GBX 1,900 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,800 target price on shares of Jet2 in a research report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price target on shares of 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. 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. Finally, Canaccord Genuity Group dropped their price objective on shares of Jet2 from GBX 1,900 to GBX 1,750 and set a “buy” rating on the stock in a research note on Wednesday, July 8th.

Insider Activity at Jet2

In related news, insider Gary Brown sold 26,143 shares of the company’s 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 £385,609.25. Also, insider Stephen Heapy sold 34,241 shares of the firm’s 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 £505,054.75. Insiders have sold 87,558 shares of company stock valued at $129,148,050 over the last quarter. Company insiders own 22.48% of the company’s stock.

Jet2 Trading Up 1.4%

JET2 opened at GBX 1,540 on Tuesday. The stock has a market cap of £2.78 billion, a PE ratio of 6.58, a PEG ratio of 9.34 and a beta of 1.16. 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 business has a 50 day moving average of GBX 1,344.22 and a 200-day moving average of GBX 1,241.82. Jet2 has a 52 week low of GBX 980 and a 52 week high of GBX 1,676.

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

Jet2 declared that its board has initiated a stock buyback plan on Wednesday, July 8th that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are 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.