Jet2 (LON:JET2) Stock Price Down 12.2% on Analyst Downgrade

Jet2 plc (LON:JET2)’s stock price was down 12.2% 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 1,416.72 ($19.03). Approximately 19,551,631 shares traded hands during trading, an increase of 1,732% from the average daily volume of 1,067,196 shares. The stock had previously closed at GBX 1,613 ($21.67).

Other analysts have also recently issued reports about the stock. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 2,200 price target on shares of Jet2 in a report on Thursday, July 10th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Jet2 in a report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of GBX 2,221.25.

Jet2 Trading Down 15.2%

The company has a debt-to-equity ratio of 103.30, a current ratio of 1.36 and a quick ratio of 1.49. The stock 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’s fifty day moving average price is GBX 1,660.87 and its 200-day moving average price is GBX 1,577.97.

Jet2 (LON:JET2) last released 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%. On average, research analysts expect that Jet2 plc will post 170.9134615 EPS for the current fiscal year.

Jet2 Company Profile

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.