Key points
- The Flight Centre share price has gained 7% over the past month
- It’s outperformed its ASX 200 travel share peers
- COVID-19 Omicron fears continue to impact the travel industry
The Flight Centre Travel Group Ltd (ASX: FLT) share price has been up and down over the past month but has taken off overall.
Shares in the travel company are currently trading at $17.66, up 7.29% in the past month.
Let’s take a look at what’s making this share price take flight during the month.
What’s been happening at Flight Centre?
The Flight Centre share price gained 13% between market close on 20 December and 4 January. Since then, it’s been bouncing up and down as COVID-19 Omicron fears continue to impact the travel industry.
The opening of interstate borders including Queensland and South Australia appeared to weigh positively on the company’s shares in the lead-up to Christmas and the New Year. International arrival restrictions also eased in late December for arrivals into New South Wales and Victoria.
However, Omicron fears and rising case numbers appeared to impact Flight Centre and its travel share peers in mid-January. Between market close on 12 January and 14 January, the travel agency’s shares fell 6.84% before bouncing back.
On January 17, Flight Centre CEO Graham ‘Skroo’ Turner said he believed the reopening of Queensland’s borders signalled the “beginning of the end” of the pandemic. The company’s shares jumped 3.87% on the news.
Flight Centre has narrowly outperformed its S&P/ASX 200 Index (ASX: XJO) travel share counterparts in the past month. Qantas Airways Limited (ASX: QAN) has gained 6.07%, while Webjet Limited (ASX: WEB) has gained 4.37%.
Meanwhile, Helloworld Travel Ltd (ASX: HLO) has risen 3.08%, and Corporate Travel Management Ltd (ASX: CTD) has climbed 0.14%.
Flight Centre share price snapshot
The Flight Centre share price has returned 14.5% in the past 12 months and is flat this year to date.
For perspective, the ASX 200 has returned about 8% in the past year.
The company has a market capitalisation of about $3.6 billion based on its current share price.
The post Why did the Flight Centre (ASX:FLT) share price gain 7% in a month? appeared first on The Motley Fool Australia.
Should you invest $1,000 in Flight Centre right now?
Before you consider Flight Centre , you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Flight Centre wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of January 13th 2022
More reading
- Why are ASX 200 travel shares down today?
- Flight Centre (ASX:FLT) share price gains after boss anticipates ‘beginning of the end’ of COVID
- These are the 10 most shorted ASX shares
- Why did the Flight Centre (ASX:FLT) share price slump on Thursday?
- Why did the Flight Centre (ASX:FLT) share price have such a volatile year in 2021?
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/3qIREAl
Leave a Reply