Jet2 (LON:JET2) Shares Down 2.1% – Here’s What Happened

Jet2 plc (LON:JET2)’s stock price fell 2.1% during mid-day trading on Tuesday . The company traded as low as GBX 1,534 and last traded at GBX 1,542. Approximately 812,218 shares were traded during mid-day trading, a decline of 70% from the average session volume of 2,689,610 shares. The stock had previously closed at GBX 1,575.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,800 price target on shares of Jet2 in a research report on Wednesday, April 29th. 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. Royal Bank Of Canada raised their target price on shares of Jet2 from GBX 1,800 to GBX 1,900 and gave the stock an “outperform” rating in a report on Thursday, July 9th. UBS Group reaffirmed a “buy” rating and issued a GBX 1,660 price target on shares of Jet2 in a research note on Friday, July 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Jet2 from GBX 1,300 to GBX 1,200 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Jet2 currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,638.14.

Jet2 Stock Down 0.3%

The firm has a 50-day moving average of GBX 1,438.40 and a 200 day moving average of GBX 1,268.87. 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 stock has a market capitalization of £2.76 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 9.34 and a beta of 1.18.

Jet2 (LON:JET2) last posted its quarterly earnings results on Wednesday, July 8th. The company reported GBX 211.20 earnings per share for the quarter. Jet2 had a return on equity of 19.92% and a net margin of 5.49%. As a group, sell-side analysts forecast that Jet2 plc will post 170.9134615 earnings per share for the current fiscal year.

Jet2 announced that its board has initiated a stock buyback program on Wednesday, July 8th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Jet2 news, insider Stephen Heapy sold 15,409 shares of the stock in a transaction on Friday, July 17th. The shares were sold at an average price of GBX 1,475, for a total value of £227,282.75. Also, insider Gary Brown sold 11,765 shares of Jet2 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 £173,533.75. In the last quarter, insiders sold 87,558 shares of company stock valued at $129,148,050. Corporate insiders own 22.58% of the company’s stock.

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.