Jet2 (LON:JET2) Trading Down 12.2% After Analyst Downgrade

Jet2 plc (LON:JET2) fell 12.2% 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 1,416.94 ($19.04). 19,518,779 shares were traded during mid-day trading, an increase of 1,729% from the average session volume of 1,067,003 shares. The stock had previously closed at GBX 1,613 ($21.67).

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

Jet2 Stock Performance

The company has a current ratio of 1.36, a quick ratio of 1.49 and a debt-to-equity ratio of 103.30. The firm has a fifty day moving average price of GBX 1,660.87 and a 200 day moving average price of GBX 1,577.97. The firm has a market cap of £2.84 billion, a PE ratio of 660.32, a price-to-earnings-growth ratio of 9.34 and a beta of 2.27.

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