easyJet (LON:EZJ) Shares Down 5% After Analyst Downgrade

easyJet plc (LON:EZJ) shares fell 5% on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from GBX 400 to GBX 350. JPMorgan Chase & Co. currently has an underweight rating on the stock. easyJet traded as low as GBX 357 and last traded at GBX 371.60. 458,064,531 shares traded hands during trading, an increase of 1,326% from the average session volume of 32,128,771 shares. The stock had previously closed at GBX 391.

Several other brokerages also recently issued reports on EZJ. Citigroup reduced their price objective on easyJet from GBX 500 to GBX 490 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 590 price objective on shares of easyJet in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on easyJet from GBX 465 to GBX 340 and set a “sell” rating for the company in a research report on Thursday, March 19th. Finally, UBS Group reiterated a “buy” rating and set a GBX 800 price objective on shares of easyJet in a research report on Friday, January 16th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of GBX 600.

easyJet Stock Performance

The stock has a market cap of £2.78 billion, a P/E ratio of 5.74, a PEG ratio of 0.59 and a beta of 1.76. The company has a fifty day moving average of GBX 410.10 and a 200 day moving average of GBX 459.71. The company has a debt-to-equity ratio of 83.65, a current ratio of 1.11 and a quick ratio of 1.09.

easyJet Company Profile

We are a low-cost, European, point-to-point airline. We use our cost advantage, operational efficiency and leading positions in primary airports to deliver low fares for our customers – making great value travel accessible for everyone. We aim to provide simple, convenient travel and holidays at a competitive price with outstanding customer service. easyJet is one of the largest airlines in the world, with 347 aircraft, operating 1,099 routes across 35 countries and 160 airports.