easyJet (LON:EZJ) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• easyJet plc stock has crossed above its 200-day moving average of GBX 509.19, indicating positive momentum in its trading performance.
• JPMorgan Chase & Co. raised their price target for easyJet from GBX 670 to GBX 700, assigning the stock an "overweight" rating.
• Insider Elyes Mrad bought 14,000 shares at an average cost of GBX 588, reflecting confidence in the company's future prospects.

easyJet plc (LON:EZJ - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 509.19 ($6.90) and traded as high as GBX 511 ($6.93). easyJet shares last traded at GBX 507 ($6.87), with a volume of 2,464,540 shares traded.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their price objective on shares of easyJet from GBX 670 ($9.08) to GBX 700 ($9.49) and gave the stock an "overweight" rating in a research report on Friday, July 18th.

easyJet Stock Up 0.9%

The company has a debt-to-equity ratio of 110.33, a quick ratio of 1.09 and a current ratio of 1.02. The firm's 50-day moving average is GBX 519.69 and its 200 day moving average is GBX 509.56. The firm has a market capitalization of £3.90 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 0.59 and a beta of 2.49.

easyJet (LON:EZJ - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The company reported GBX (38.90) (($0.53)) EPS for the quarter. easyJet had a return on equity of 13.89% and a net margin of 4.27%. As a group, research analysts forecast that easyJet plc will post 67.3369565 earnings per share for the current fiscal year.

Insider Transactions at easyJet

In other news, insider Elyes Mrad bought 14,000 shares of easyJet stock in a transaction on Wednesday, June 4th. The shares were bought at an average cost of GBX 588 ($7.97) per share, for a total transaction of £82,320 ($111,574.95). Company insiders own 16.74% of the company's stock.

easyJet Company Profile

We are a low-cost, European, point-to-point airline. We use our cost advantage, operational efficiency and leading positions in primary airports to deliver low fares for our customers – making great value travel accessible for everyone. We aim to provide simple, convenient travel and holidays at a competitive price with outstanding customer service.