Deutsche Bank Aktiengesellschaft Reaffirms “Hold” Rating for Jet2 (LON:JET2)

Jet2 (LON:JET2Get Free Report)‘s stock had its “hold” rating reissued by research analysts at Deutsche Bank Aktiengesellschaft in a research note issued to investors on Friday, Digital Look reports. They presently have a GBX 1,256 target price on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential downside of 18.07% from the company’s previous close.

A number of other equities research analysts have also commented on JET2. Canaccord Genuity Group increased their price target on Jet2 from GBX 1,750 to GBX 1,800 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank Of Canada increased their target price on 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 report on Friday, July 3rd. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 1,800 price objective on shares of Jet2 in a report on Friday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 1,616.57.

Read Our Latest Research Report on Jet2

Jet2 Price Performance

Shares of JET2 traded up GBX 25 during trading hours on Friday, hitting GBX 1,533. The stock had a trading volume of 326,397 shares, compared to its average volume of 2,535,000. The company’s fifty day moving average is GBX 1,486.46 and its two-hundred day moving average is GBX 1,290.19. 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 52 week low of GBX 980 and a 52 week high of GBX 1,612. The stock has a market capitalization of £2.76 billion, a price-to-earnings ratio of 7.36, a P/E/G ratio of 9.34 and a beta of 1.18.

Jet2 (LON:JET2Get Free Report) 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%. On average, analysts anticipate that Jet2 will post 170.9134615 EPS for the current year.

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

Insider Buying and Selling

In related news, insider Stephen Heapy sold 15,409 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 £227,282.75. Also, insider Gary Brown sold 11,765 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 £173,533.75. Over the last three months, insiders have sold 87,558 shares of company stock valued at $129,148,050. 22.58% of the stock is currently owned by insiders.

Key Stories Impacting Jet2

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

(Get Free Report)

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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Analyst Recommendations for Jet2 (LON:JET2)

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