Jet2 (LON:JET2) Trading Down 14.3% After Analyst Downgrade

Jet2 plc (LON:JET2)’s stock price was down 14.3% 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 1,383 ($18.58). Approximately 18,978,691 shares changed hands during trading, an increase of 1,684% from the average daily volume of 1,063,845 shares. The stock had previously closed at GBX 1,613 ($21.67).

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

Jet2 Stock Performance

The company has a market cap of £2.84 billion, a PE ratio of 660.32, a PEG ratio of 9.34 and a beta of 2.27. 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 business has a 50-day moving average of GBX 1,660.87 and a 200 day moving average of GBX 1,577.97.

Jet2 (LON:JET2) last posted its quarterly earnings data 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%. Equities research analysts anticipate 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.