Jet2 (LON:JET2) Shares Down 13.6% Following Analyst Downgrade

Jet2 plc (LON:JET2) was down 13.6% 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 1,394 ($18.73). Approximately 19,107,965 shares changed hands during trading, an increase of 1,695% from the average daily volume of 1,064,601 shares. The stock had previously closed at GBX 1,613 ($21.67).

Several other research analysts have also commented on JET2. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Jet2 in a report on Friday, July 18th. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 2,200 price target on shares of Jet2 in a report on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, Jet2 currently has a consensus rating of “Buy” and an average price target of GBX 2,221.25.

Jet2 Price Performance

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 market cap 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 stock has a 50-day simple moving average of GBX 1,660.87 and a 200 day simple moving average of GBX 1,577.97.

Jet2 (LON:JET2) last posted its earnings results on Wednesday, July 9th. The company reported GBX 213.10 EPS for the quarter. Jet2 had a return on equity of 26.53% and a net margin of 6.38%. Equities analysts expect that Jet2 plc will post 170.9134615 EPS 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.