Jet2 (LON:JET2) Reaches New 1-Year High – Here’s Why

Shares of Jet2 plc (LON:JET2) reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 1,610 ($20.41) and last traded at GBX 1,595 ($20.22), with a volume of 199913 shares trading hands. The stock had previously closed at GBX 1,593 ($20.20).

Wall Street Analyst Weigh In

A number of analysts recently weighed in on JET2 shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Jet2 from GBX 2,240 ($28.40) to GBX 2,385 ($30.24) and gave the stock a “buy” rating in a report on Friday, November 22nd. Canaccord Genuity Group upped their price target on shares of Jet2 from GBX 1,900 ($24.09) to GBX 2,050 ($25.99) and gave the stock a “buy” rating in a report on Thursday, November 21st.

Jet2 Stock Up 0.4 %

The company has a debt-to-equity ratio of 103.30, a current ratio of 1.36 and a quick ratio of 1.49. The company has a fifty day moving average price of GBX 1,455.86 and a 200 day moving average price of GBX 1,394.16. The company has a market cap of £3.46 billion, a PE ratio of 948.82, a price-to-earnings-growth ratio of 9.34 and a beta of 2.27.

Jet2 Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, February 7th. Shareholders of record on Thursday, January 2nd will be paid a GBX 4.40 ($0.06) dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a yield of 0.31%. Jet2’s dividend payout ratio is presently 882.35%.

Insider Activity

In other news, insider Rachel Kentleton bought 1,801 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of GBX 1,403 ($17.79) per share, for a total transaction of £25,268.03 ($32,033.51). Also, insider Angela Luger bought 900 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was purchased at an average cost of GBX 1,395 ($17.69) per share, with a total value of £12,555 ($15,916.58). Corporate insiders own 20.92% of the company’s stock.

About Jet2

Jet2 plc, together with its subsidiaries, engages in the leisure travel business primarily in the United Kingdom. The company operates scheduled holiday flights to leisure destinations in the Mediterranean, the Canary Islands, and European Leisure Cities. It is also involved in the package holiday and non-ticket retail activities, as well as passenger and charter aircraft operations.