Jet2 (LON:JET2) Reaches New 52-Week High – Time to Buy?

Jet2 plc (LON:JET2)’s stock price hit a new 52-week high on Monday . The company traded as high as GBX 1,647 ($20.87) and last traded at GBX 1,566 ($19.84), with a volume of 7229 shares traded. The stock had previously closed at GBX 1,573 ($19.93).

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of Jet2 from GBX 1,900 ($24.08) to GBX 2,050 ($25.98) and gave the company a “buy” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft increased their target price on Jet2 from GBX 2,240 ($28.38) to GBX 2,385 ($30.22) and gave the stock a “buy” rating in a research report on Friday, November 22nd.

Jet2 Stock Down 0.1 %

The stock’s fifty day moving average is GBX 1,465.67 and its two-hundred day moving average is GBX 1,398.35. The firm has a market cap of £3.42 billion, a P/E ratio of 938.24, a price-to-earnings-growth ratio of 9.34 and a beta of 2.27. The company has a current ratio of 1.36, a quick ratio of 1.49 and a debt-to-equity ratio of 103.30.

Jet2 Cuts Dividend

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

Insiders Place Their Bets

In related news, insider Angela Luger purchased 900 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average price of GBX 1,395 ($17.68) per share, with a total value of £12,555 ($15,908.51). Also, insider Rachel Kentleton acquired 1,801 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of GBX 1,403 ($17.78) per share, with a total value of £25,268.03 ($32,017.27). 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.