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

Key Points

• easyJet shares fell about 5% after JPMorgan cut its price target from GBX 400 to GBX 350 and moved to an underweight rating; intraday volume surged to 458,064,531 shares (up 1,326% vs. average) with the stock trading as low as GBX 357.
• Analyst views are mixed—five Buy, one Hold and two Sell—leaving a MarketBeat consensus rating of "Hold" and a consensus target of GBX 600, though several firms (Deutsche Bank, Citi) have recently trimmed targets.
• Key fundamentals: market cap £2.78 billion, P/E 5.74 and debt-to-equity 83.65, and the share price is trading below both its 50-day (GBX 412.58) and 200-day (GBX 460.33) moving averages.

easyJet plc (LON:EZJ - Get Free Report) shares traded down 5% during trading 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 were traded during mid-day trading, an increase of 1,326% from the average session volume of 32,128,771 shares. The stock had previously closed at GBX 391.

Other analysts also recently issued research reports about the company. Royal Bank Of Canada restated an "outperform" rating and issued a GBX 590 target price on shares of easyJet in a research note on Monday, February 2nd. UBS Group restated a "buy" rating and issued a GBX 800 target price on shares of easyJet in a research note on Friday, January 16th. Citigroup lowered their target price on easyJet from GBX 500 to GBX 490 and set a "neutral" rating on the stock in a research note on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on easyJet from GBX 465 to GBX 340 and set a "sell" rating on the stock in a research note on Thursday, March 19th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, easyJet has a consensus rating of "Hold" and a consensus target price of GBX 600.

easyJet Stock Down 5.0%

The company has a market cap of £2.78 billion, a PE ratio of 5.74, a P/E/G ratio of 0.59 and a beta of 1.76. The business has a 50-day simple moving average of GBX 412.58 and a 200-day simple moving average of GBX 460.33. The company has a quick ratio of 1.09, a current ratio of 1.11 and a debt-to-equity ratio of 83.65.

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.

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