Jet2 plc (LON:JET2) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Jet2 plc (LON:JET2) has received an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is GBX 1,638.14.

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Jet2 from GBX 1,800 to GBX 1,900 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Canaccord Genuity Group reduced 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, July 8th. UBS Group restated a “buy” rating and set a GBX 1,660 price target on shares of Jet2 in a research report on Friday, July 3rd. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,800 price target on shares of Jet2 in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. cut their price objective on Jet2 from GBX 1,300 to GBX 1,200 and set a “neutral” rating for the company in a report on Tuesday, May 5th.

Insider Buying and Selling

In other Jet2 news, insider Stephen Heapy sold 15,409 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 £227,282.75. Also, insider Gary Brown sold 11,765 shares of the 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 transaction of £173,533.75. Insiders sold a total of 87,558 shares of company stock valued at $129,148,050 in the last 90 days. 22.58% of the stock is currently owned by corporate insiders.

Jet2 Trading Up 0.9%

Shares of JET2 opened at GBX 1,530 on Friday. Jet2 has a 1-year low of GBX 980 and a 1-year high of GBX 1,676. The company has a market capitalization of £2.75 billion, a P/E ratio of 7.35, a P/E/G ratio of 9.34 and a beta of 1.18. The company has a debt-to-equity ratio of 62.09, a current ratio of 1.36 and a quick ratio of 1.49. The firm’s 50 day simple moving average is GBX 1,449.32 and its 200 day simple moving average is GBX 1,272.79.

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

Jet2 declared that its Board of Directors has authorized a share buyback plan on Wednesday, July 8th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often 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.