Jet2 (LON:JET2) Stock Price Down 15.2% Following Analyst Downgrade

Jet2 plc (LON:JET2)’s stock price traded down 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). 3,217,243 shares traded hands during mid-day trading, an increase of 231% from the average session volume of 971,673 shares. The stock had previously closed at GBX 1,613 ($21.67).

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

Jet2 Stock 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 stock has a 50 day simple moving average of GBX 1,660.87 and a two-hundred day simple moving average of GBX 1,577.97. The stock has a market capitalization of £2.84 billion, a P/E ratio of 660.32, a P/E/G ratio of 9.34 and a beta of 2.27.

Jet2 (LON:JET2) last released its quarterly earnings data on Wednesday, July 9th. The company reported GBX 213.10 earnings per share (EPS) for the quarter. Jet2 had a return on equity of 26.53% and a net margin of 6.38%. On average, equities analysts forecast 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.