Jet2 (LON:JET2) Shares Down 13.2% Following Analyst Downgrade

Jet2 plc (LON:JET2)’s share price traded down 13.2% during trading on Thursday after Canaccord Genuity Group lowered their price target on the stock from GBX 2,335 to GBX 2,250. Canaccord Genuity Group currently has a buy rating on the stock. Jet2 traded as low as GBX 1,207 ($16.22) and last traded at GBX 1,400 ($18.81). 19,273,711 shares traded hands during trading, an increase of 1,709% from the average session volume of 1,065,570 shares. The stock had previously closed at GBX 1,613 ($21.67).

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. restated an “overweight” rating on shares of Jet2 in a research note on Friday, July 18th. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 2,200 price target on shares of Jet2 in a report on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 2,221.25.

Jet2 Stock Down 15.2%

The stock has a market capitalization of £2.84 billion, a PE ratio of 660.32, a P/E/G ratio of 9.34 and a beta of 2.27. The firm has a 50 day moving average of GBX 1,660.87 and a two-hundred day moving average of GBX 1,577.97. 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 (LON:JET2) last posted its earnings results on Wednesday, July 9th. The company reported GBX 213.10 earnings per share for the quarter. Jet2 had a return on equity of 26.53% and a net margin of 6.38%. Equities research analysts anticipate that Jet2 plc will post 170.9134615 earnings per share for the current year.

About Jet2

Jet2 plc is a leading leisure travel group, specialising in friendly low fares from its award-winning airline, Jet2.com, and package holidays you can trust from the UK’s largest package holiday provider, Jet2holidays.
Jet2.com is the UK’s third largest airline, flying from 12 UK airports to over 70 destinations across Europe and beyond and Jet2holidays is the UK’s largest tour operator.