Jet2 (LON:JET2) Stock Price Down 2.1% – Time to Sell?

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on JET2 shares. Canaccord Genuity Group lowered their price target on Jet2 from GBX 1,900 to GBX 1,750 and set a “buy” rating on the stock in a report on Wednesday, July 8th. JPMorgan Chase & Co. reduced their price objective on Jet2 from GBX 1,300 to GBX 1,200 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,800 price objective on shares of Jet2 in a report on Wednesday, April 29th. Royal Bank Of Canada boosted their target price on Jet2 from GBX 1,800 to GBX 1,900 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Finally, UBS Group reissued a “buy” rating and issued a GBX 1,660 target price on shares of Jet2 in a report on Friday, July 3rd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Jet2 currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,638.14.

Jet2 Trading Down 2.1%

The company has a market cap of £2.77 billion, a price-to-earnings ratio of 7.41, 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 business’s 50-day simple moving average is GBX 1,432.68 and its 200-day simple moving average is GBX 1,266.66.

Jet2 (LON:JET2) last released its quarterly earnings results 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%. Research analysts predict that Jet2 plc will post 170.9134615 earnings per share for the current fiscal year.

Jet2 announced that its Board of Directors has approved a share repurchase plan on Wednesday, July 8th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Jet2

In other news, insider Gary Brown sold 26,143 shares of the business’s stock in a transaction on Friday, July 17th. The stock was sold at an average price of GBX 1,475, for a total value of £385,609.25. Also, insider Stephen Heapy sold 34,241 shares of the company’s 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 £505,054.75. Insiders have sold 87,558 shares of company stock valued at $129,148,050 in the last three months. 22.58% of the stock is currently owned by company 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.