Jet2 (LON:JET2) Share Price Crosses Above 50-Day Moving Average – What’s Next?

Jet2 plc (LON:JET2) shares passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of GBX 1,441.94 and traded as high as GBX 1,479. Jet2 shares last traded at GBX 1,464, with a volume of 488,083 shares.

Analysts Set New Price Targets

Several research firms have weighed in on JET2. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 1,256 price objective on shares of Jet2 in a research report on Friday, September 4th. Royal Bank Of Canada increased their target price on Jet2 from GBX 1,800 to GBX 1,900 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,800 target price on shares of Jet2 in a research note on Friday, September 4th. Finally, Canaccord Genuity Group lifted their price target on Jet2 from GBX 1,750 to GBX 1,800 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Jet2 presently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,616.57.

Jet2 Trading Down 0.7%

The stock’s fifty day moving average price is GBX 1,441.94 and its 200 day moving average price is GBX 1,315.74. The stock has a market cap of £2.62 billion, a P/E ratio of 6.98, a PEG ratio of 9.34 and a beta of 1.23. The company has a current ratio of 1.36, a quick ratio of 1.49 and a debt-to-equity ratio of 62.09.

Jet2 declared that its Board of Directors has initiated a share repurchase plan on Wednesday, July 8th that allows the company to repurchase shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Share buyback plans are usually an indication that the company’s board of directors 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.