Jet2 (LON:JET2) Stock Price Down 1% - Here's Why

Key Points

• Jet2 shares fell 1% to about GBX 1,425 in mid-day trading, with volume down 84% from the average session.
• Analysts remain broadly positive, with five Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of GBX 1,616.57.
• Jet2 reported quarterly EPS of GBX 211.20, alongside a 19.92% return on equity and 5.49% net margin; insiders have sold 87,558 shares over the past 90 days.

Jet2 plc (LON:JET2 - Get Free Report)'s share price traded down 1% on Wednesday. The stock traded as low as GBX 1,415.96 and last traded at GBX 1,424.96. Approximately 379,702 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 2,312,349 shares. The stock had previously closed at GBX 1,439.

Wall Street Analysts Forecast Growth

JET2 has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a "buy" rating and set a GBX 1,800 price objective on shares of Jet2 in a research note on Friday, September 4th. Royal Bank Of Canada upped their price target on shares of Jet2 from GBX 1,800 to GBX 1,900 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a GBX 1,256 price objective on shares of Jet2 in a research report on Friday, September 4th. UBS Group restated a "buy" rating and set a GBX 1,660 price objective on shares of Jet2 in a research note on Friday, July 3rd. Finally, Canaccord Genuity Group lifted their target price on shares of Jet2 from GBX 1,750 to GBX 1,800 and gave the stock a "buy" rating in a report on Thursday, September 3rd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of GBX 1,616.57.

Jet2 Stock Down 1.0%

The stock has a market cap of £2.56 billion, a PE ratio of 6.84, a PEG 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. The company has a 50 day moving average price of GBX 1,495.94 and a two-hundred day moving average price of GBX 1,329.86.

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

Jet2 declared that its Board of Directors has authorized a share buyback program on Wednesday, July 8th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Activity

In other news, insider Stephen Heapy sold 34,241 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 transaction of £505,054.75. Also, insider Gary Brown sold 26,143 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 transaction of £385,609.25. Insiders have sold a total of 87,558 shares of company stock worth $129,148,050 in the last 90 days. Company insiders own 22.48% of the company's stock.

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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