Jet2 (LON:JET2) Shares Down 15.2% After Analyst Downgrade

Jet2 plc (LON:JET2) shares dropped 15.2% 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 1,368.18 ($18.38). Approximately 3,217,243 shares traded hands during trading, an increase of 231% from the average daily volume of 971,673 shares. The stock had previously closed at GBX 1,613 ($21.67).

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

Jet2 Price Performance

The business has a 50-day moving average price of GBX 1,660.87 and a 200 day moving average price of GBX 1,577.97. The company has a market cap of £2.84 billion, a price-to-earnings ratio of 660.32, a P/E/G 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 (LON:JET2) last announced its quarterly earnings data 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%. As a group, research analysts expect that Jet2 plc will post 170.9134615 earnings per share for the current fiscal 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.