Jet2 (LON:JET2) Price Target Raised to GBX 1,800 at Canaccord Genuity Group

Jet2 (LON:JET2) had its price objective lifted by research analysts at Canaccord Genuity Group from GBX 1,750 to GBX 1,800 in a report issued on Thursday, London Stock Exchange reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 19.78% from the stock’s previous close.

Several other equities analysts have also recently weighed in on JET2. Royal Bank Of Canada raised their price target on shares of Jet2 from GBX 1,800 to GBX 1,900 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. UBS Group restated a “buy” rating and set a GBX 1,660 target price on shares of Jet2 in a report on Friday, July 3rd. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Jet2 has an average rating of “Moderate Buy” and a consensus price target of GBX 1,645.29.

Jet2 Stock Up 3.1%

LON:JET2 opened at GBX 1,502.70 on Thursday. The company has a debt-to-equity ratio of 62.09, a quick ratio of 1.49 and a current ratio of 1.36. The company has a market cap of £2.70 billion, a PE ratio of 7.22, a PEG ratio of 9.34 and a beta of 1.18. Jet2 has a 52-week low of GBX 980 and a 52-week high of GBX 1,612. The stock has a 50-day simple moving average of GBX 1,483.66 and a 200 day simple moving average of GBX 1,288.45.

Jet2 (LON:JET2) last released its earnings results on Wednesday, July 8th. The company reported GBX 211.20 EPS for the quarter. Jet2 had a return on equity of 19.92% and a net margin of 5.49%. On average, sell-side analysts expect that Jet2 will post 170.9134615 EPS for the current fiscal year.

Jet2 declared that its Board of Directors has approved a stock buyback program on Wednesday, July 8th that allows the company to buyback 0 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

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 stock was sold at an average price of GBX 1,475, for a total transaction of £505,054.75. Insiders have sold a total of 87,558 shares of company stock worth $129,148,050 over the last three months. 22.58% of the stock is owned by insiders.

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.