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

Jet2 plc (LON:JET2) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings 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 1 year target price among brokerages that have issued ratings on the stock in the last year is GBX 1,638.14.

A number of equities research analysts have issued reports on JET2 shares. UBS Group reaffirmed a “buy” rating and issued a GBX 1,660 price objective on shares of Jet2 in a research report on Friday, July 3rd. Royal Bank Of Canada increased their price objective on Jet2 from GBX 1,800 to GBX 1,900 and gave the company an “outperform” rating in a 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 Wednesday, April 29th. Canaccord Genuity Group dropped their price target on Jet2 from GBX 1,900 to GBX 1,750 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. cut 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.

Insider Transactions at Jet2

In other Jet2 news, insider Gary Brown sold 26,143 shares of the stock in a transaction dated Friday, July 17th. The shares were sold at an average price of GBX 1,475, for a total transaction of £385,609.25. Also, insider Stephen Heapy sold 34,241 shares of Jet2 stock in a transaction dated 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 87,558 shares of company stock valued at $129,148,050 in the last quarter. Company insiders own 22.48% of the company’s stock.

Jet2 Stock Performance

Shares of JET2 opened at GBX 1,445 on Tuesday. The company has a market cap of £2.61 billion, a PE ratio of 6.17, a P/E/G ratio of 9.34 and a beta of 1.16. The stock has a 50-day moving average of GBX 1,313.07 and a 200-day moving average of GBX 1,238.60. The company has a debt-to-equity ratio of 62.09, a current ratio of 1.36 and a quick ratio of 1.49. Jet2 has a one year low of GBX 980 and a one year high of GBX 1,676.

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

Jet2 announced that its board has approved a stock buyback plan on Wednesday, July 8th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership 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.