Jet2 (LON:JET2) Hits New 12-Month High – Still a Buy?

Jet2 plc (LON:JET2)’s stock price hit a new 52-week high on Tuesday . The stock 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 research firms have issued reports on JET2. Deutsche Bank Aktiengesellschaft lifted their price objective 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 boosted 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 Performance

The firm has a market cap of £3.46 billion, a PE ratio of 948.82, a PEG ratio of 9.34 and a beta of 2.27. The company has a quick ratio of 1.49, a current ratio of 1.36 and a debt-to-equity ratio of 103.30. The company has a 50-day simple moving average of GBX 1,455.86 and a two-hundred day simple moving average of GBX 1,394.16.

Jet2 Cuts Dividend

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

Insider Activity at Jet2

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

Jet2 Company Profile

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.