Jet2 (LON:JET2) Trading Down 11.7% After Analyst Downgrade

Jet2 plc (LON:JET2)’s share price dropped 11.7% during mid-day 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 1,424 ($19.13). Approximately 19,611,342 shares changed hands during trading, an increase of 1,737% from the average daily volume of 1,067,545 shares. The stock had previously closed at GBX 1,613 ($21.67).

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

Jet2 Trading Down 15.2%

The firm has a market capitalization 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 business 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 quick ratio of 1.49, a current ratio of 1.36 and a debt-to-equity ratio of 103.30.

Jet2 (LON:JET2) last released 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%. Research analysts predict that Jet2 plc will post 170.9134615 EPS 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.