Jet2 (LON:JET2) Stock Price Up 3.7% – Here’s Why

Shares of Jet2 plc (LON:JET2) rose 3.7% during trading on Friday . The company traded as high as GBX 1,476 ($19.74) and last traded at GBX 1,421 ($19.01). Approximately 1,534,084 shares were traded during trading, an increase of 168% from the average daily volume of 572,634 shares. The stock had previously closed at GBX 1,370 ($18.33).

Analyst Ratings Changes

Several equities research analysts have issued reports on JET2 shares. Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,800 ($24.08) price objective on shares of Jet2 in a research report on Friday, July 12th. Royal Bank of Canada restated an “outperform” rating and issued a GBX 2,000 ($26.75) price target on shares of Jet2 in a report on Monday, July 15th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a GBX 1,900 ($25.41) price target on shares of Jet2 in a report on Thursday, July 11th.

Jet2 Price Performance

The company has a debt-to-equity ratio of 103.30, a quick ratio of 1.49 and a current ratio of 1.36. The firm has a market cap of £3.05 billion, a price-to-earnings ratio of 835.88, a price-to-earnings-growth ratio of 9.34 and a beta of 2.27. The stock’s 50 day simple moving average is GBX 1,399.07 and its 200-day simple moving average is GBX 1,382.42.

Jet2 Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Thursday, September 19th will be issued a GBX 10.70 ($0.14) dividend. This is an increase from Jet2’s previous dividend of $4.00. This represents a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, September 19th. Jet2’s dividend payout ratio is 882.35%.

Insider Activity

In other news, insider Robin Terrell purchased 8,557 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were purchased at an average cost of GBX 1,388 ($18.57) per share, with a total value of £118,771.16 ($158,869.93). In other news, insider Robin Terrell purchased 8,557 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were purchased at an average cost of GBX 1,388 ($18.57) per share, with a total value of £118,771.16 ($158,869.93). Also, insider Rachel Kentleton purchased 1,801 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of GBX 1,403 ($18.77) per share, for a total transaction of £25,268.03 ($33,798.86). 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.