Jet2’s (JET2) Hold Rating Reiterated at Deutsche Bank Aktiengesellschaft

Jet2 (LON:JET2)‘s stock had its “hold” rating restated by Deutsche Bank Aktiengesellschaft in a research report issued to clients and investors on Friday, Digital Look reports. They currently have a GBX 1,256 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential downside of 18.07% from the company’s previous close.

JET2 has been the topic of several other research reports. UBS Group restated a “buy” rating and set a GBX 1,660 price objective on shares of Jet2 in a report on Friday, July 3rd. Canaccord Genuity Group increased their target price on shares of Jet2 from GBX 1,750 to GBX 1,800 and gave the company a “buy” rating in a research note on Thursday. Royal Bank Of Canada lifted 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, Jefferies Financial Group restated a “buy” rating and set a GBX 1,800 price target on shares of Jet2 in a research note on Friday. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Jet2 has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,616.57.

Jet2 Stock Performance

Shares of Jet2 stock traded up GBX 25 during midday trading on Friday, hitting GBX 1,533. The company had a trading volume of 326,397 shares, compared to its average volume of 2,535,000. The business’s 50 day simple moving average is GBX 1,486.46 and its two-hundred day simple moving average is GBX 1,290.19. The stock has a market cap of £2.76 billion, a PE ratio of 7.36, a P/E/G 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. Jet2 has a 1-year low of GBX 980 and a 1-year high of GBX 1,612.

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

Jet2 announced that its Board of Directors has initiated a stock buyback plan on Wednesday, July 8th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Stephen Heapy sold 34,241 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 £505,054.75. Also, insider Gary Brown sold 26,143 shares of the firm’s stock in a transaction dated Friday, July 17th. The stock was sold at an average price of GBX 1,475, for a total transaction of £385,609.25. In the last 90 days, insiders sold 87,558 shares of company stock valued at $129,148,050. Corporate insiders own 22.58% of the company’s stock.

Jet2 News Summary

Here are the key news stories impacting Jet2 this week:

• Positive Sentiment: Strong bookings and resilient demand: Jet2 said summer bookings increased 8.8% and that late-booking trends are continuing into winter, despite disruption linked to the Middle East. Management expects a stronger winter season, supporting revenue and earnings expectations. Jet2 says summer bookings are up 8.8% and it is on track for a stronger winter
• Positive Sentiment: Move to the London Stock Exchange Main Market: Jet2 plans to leave AIM for the Main Market, a change that could improve its profile with institutional investors, broaden access to capital and potentially support liquidity and valuation. Jet2 announces move to Main Market of London Stock Exchange
• Positive Sentiment: Broker support: Canaccord Genuity raised its price target from GBX 1,750 to GBX 1,800 and retained a “buy” rating. Jefferies also reaffirmed its “buy” rating with a GBX 1,800 target, reinforcing bullish analyst sentiment.
• Positive Sentiment: Fuel-cost protection: Jet2 is increasing fuel hedging after solid bookings, which should provide greater cost visibility and reduce exposure to sudden jet-fuel price increases. UK’s Jet2 boosts fuel hedging after solid summer bookings
• Neutral Sentiment: Corporate support: Shareholders approved all AGM resolutions, giving the board continued flexibility over capital allocation and governance. Jet2 shareholders back all AGM resolutions
• Neutral Sentiment: Passenger guidance and network expansion: Advisories to carry additional travel documentation and a planned new Stansted route are useful for customers and modestly expand the network, but have limited immediate earnings impact.

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.