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

Key Points

• Canaccord Genuity raised Jet2’s price target from GBX 1,750 to GBX 1,800 and maintained a “buy” rating, implying 19.78% potential upside from the current price.
• Analyst sentiment remains positive: six analysts rate Jet2 a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of GBX 1,645.29.
• Jet2 shares were trading up 3.1% at GBX 1,502.70, while recent insider activity showed executives selling shares; insiders have sold 87,558 shares over the past 90 days.

Jet2 (LON:JET2 - Get Free Report) had its target price raised by stock analysts at Canaccord Genuity Group from GBX 1,750 to GBX 1,800 in a research report issued on Thursday, London Stock Exchange reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective indicates a potential upside of 19.78% from the stock's current price.

A number of other research firms also recently weighed in on JET2. UBS Group reissued a "buy" rating and issued a GBX 1,660 price target on shares of Jet2 in a research note on Friday, July 3rd. Royal Bank Of Canada lifted their price objective on Jet2 from GBX 1,800 to GBX 1,900 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Jet2 presently has an average rating of "Moderate Buy" and a consensus price target of GBX 1,645.29.

Jet2 Trading Up 3.1%

Shares of LON JET2 opened at GBX 1,502.70 on Thursday. The company's 50 day simple moving average is GBX 1,483.66 and its 200 day simple moving average is GBX 1,288.45. Jet2 has a fifty-two week low of GBX 980 and a fifty-two week high of GBX 1,612. The firm has a market capitalization of £2.70 billion, a P/E ratio of 7.22, 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.

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

Jet2 announced that its Board of Directors has initiated a stock repurchase program on Wednesday, July 8th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Jet2

In other news, insider Stephen Heapy sold 15,409 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 £227,282.75. Also, insider Gary Brown sold 11,765 shares of the business's 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 value of £173,533.75. In the last ninety days, insiders have sold 87,558 shares of company stock worth $129,148,050. 22.58% of the stock is currently 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.

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