Jet2 plc (LON:JET2) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts remain broadly bullish on Jet2: Seven brokers assign the stock a consensus “Moderate Buy” rating, with six buys and one hold. The average 12-month price target is GBX 1,638.14.
• Recent targets range from GBX 1,200 at JPMorgan, which maintains a neutral rating, to GBX 1,900 at RBC, which rates the shares “outperform.” Jet2 opened at GBX 1,445, compared with a one-year range of GBX 980 to GBX 1,676.
• Jet2 reported quarterly EPS of GBX 211.20, a 5.49% net margin and 19.92% return on equity. Insiders have sold 87,558 shares over the past 90 days, while insiders retain a 22.48% ownership stake.

Jet2 plc (LON:JET2 - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is GBX 1,638.14.

JET2 has been the topic of several recent analyst reports. UBS Group reiterated a "buy" rating and issued a GBX 1,660 price target on shares of Jet2 in a research note on Friday, July 3rd. JPMorgan Chase & Co. dropped their price objective on Jet2 from GBX 1,300 to GBX 1,200 and set a "neutral" rating for the company in a research report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 1,800 price objective on shares of Jet2 in a research note on Wednesday, April 29th. Royal Bank Of Canada lifted their target price on Jet2 from GBX 1,800 to GBX 1,900 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Finally, Canaccord Genuity Group lowered their target price on Jet2 from GBX 1,900 to GBX 1,750 and set a "buy" rating for the company in a research note on Wednesday, July 8th.

Jet2 Stock Performance

LON JET2 opened at GBX 1,445 on Tuesday. The firm's 50 day simple moving average is GBX 1,313.07 and its 200 day simple moving average is GBX 1,238.60. The firm has a market capitalization of £2.61 billion, a price-to-earnings ratio of 6.17, a P/E/G ratio of 9.34 and a beta of 1.16. 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 has a 1 year low of GBX 980 and a 1 year high of GBX 1,676.

Jet2 (LON:JET2 - Get Free Report) last announced its quarterly earnings data 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%. As a group, research analysts expect that Jet2 will post 170.9134615 earnings per share for the current fiscal year.

Jet2 announced that its board has authorized a share repurchase plan on Wednesday, July 8th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Insider Activity at Jet2

In related news, 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 value of £173,533.75. Also, insider Stephen Heapy sold 15,409 shares of the firm'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 transaction of £227,282.75. Insiders have sold a total of 87,558 shares of company stock worth $129,148,050 over the last ninety days. 22.48% of the stock is currently owned by insiders.

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.

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