Jet2 (LON:JET2) Trading Down 15.2% After Analyst Downgrade

Jet2 plc (LON:JET2) was down 15.2% during trading on Friday 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). Approximately 3,217,243 shares were traded during mid-day trading, an increase of 231% from the average daily volume of 971,673 shares. The stock had previously closed at GBX 1,613 ($21.67).

A number of other analysts have also issued reports on JET2. 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. restated an “overweight” rating on shares of Jet2 in a research note on Friday, July 18th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 2,221.25.

Jet2 Trading Down 15.2%

The stock has a market cap 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’s fifty day simple moving average is GBX 1,660.87 and its 200 day simple moving average is GBX 1,577.97. The company has a debt-to-equity ratio of 103.30, a current ratio of 1.36 and a quick ratio of 1.49.

Jet2 (LON:JET2) last released its quarterly earnings data on Wednesday, July 9th. The company reported GBX 213.10 EPS for the quarter. Jet2 had a net margin of 6.38% and a return on equity of 26.53%. On average, research analysts predict that Jet2 plc will post 170.9134615 EPS for the current 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.