Jet2 (LON:JET2) Trading Up 8.2% – Should You Buy?

Jet2 plc (LON:JET2) was up 8.2% during trading on Wednesday . The stock traded as high as GBX 1,581 and last traded at GBX 1,467. Approximately 57,336,406 shares changed hands during trading, an increase of 1,525% from the average daily volume of 3,528,047 shares. The stock had previously closed at GBX 1,356.

Analysts Set New Price Targets

Several brokerages have weighed in on JET2. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,800 target price on shares of Jet2 in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft decreased their price objective on Jet2 from GBX 1,596 to GBX 1,457 and set a “buy” rating for the company in a report on Friday, March 20th. Canaccord Genuity Group dropped their target price on Jet2 from GBX 1,900 to GBX 1,750 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank Of Canada upped their target price on Jet2 from GBX 1,800 to GBX 1,900 and gave the company an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on 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. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,638.14.

Jet2 Stock Up 4.4%

The firm has a market capitalization of £2.73 billion, a price-to-earnings ratio of 6.45, a price-to-earnings-growth ratio of 9.34 and a beta of 1.46. The company has a debt-to-equity ratio of 14.00, a current ratio of 1.36 and a quick ratio of 1.49. The business has a fifty day moving average price of GBX 1,227.38 and a two-hundred day moving average price of GBX 1,233.12.

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, equities analysts expect that Jet2 plc will post 170.9134615 earnings per share for the current year.

Jet2 announced that its Board of Directors has approved a stock repurchase 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 generally an indication that the company’s management believes its stock is 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.