Jet2 (LON:JET2) Trading Down 13.6% on Analyst Downgrade

Jet2 plc (LON:JET2) traded down 13.6% 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 1,394 ($18.73). 19,107,965 shares changed hands during trading, an increase of 1,695% from the average session volume of 1,064,601 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, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of GBX 2,221.25.

Jet2 Stock Down 15.2%

The company has a 50-day moving average of GBX 1,660.87 and a 200-day moving average of GBX 1,577.97. The company has a market capitalization of £2.84 billion, a price-to-earnings ratio of 660.32, a price-to-earnings-growth 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 posted its quarterly 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%. On average, equities analysts predict 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.