Jet2 (LON:JET2) Shares Down 11.7% Following Analyst Downgrade

Key Points

• Jet2 plc shares fell by 11.7% after Canaccord Genuity Group downgraded its price target from GBX 2,335 to GBX 2,250, while maintaining a buy rating.
• Approximately 19.6 million shares were traded, significantly higher than the average daily volume, indicating increased investor activity following the downgrade.
• The company has an average target price of GBX 2,221.25, with five analysts rating the stock as a Buy despite the recent price decline.

Jet2 plc (LON:JET2 - Get Free Report)'s share price was down 11.7% 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 1,424 ($19.14). Approximately 19,611,342 shares were traded during mid-day trading, an increase of 1,737% from the average daily volume of 1,067,545 shares. The stock had previously closed at GBX 1,613 ($21.68).

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

Jet2 Trading Down 12.3%

The company has a market capitalization of £2.93 billion, a PE ratio of 682.43, a price-to-earnings-growth ratio of 9.34 and a beta of 2.27. The company's fifty day moving average is GBX 1,669.90 and its 200-day moving average is GBX 1,579.40. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, July 9th. The company reported GBX 213.10 earnings per share (EPS) for the quarter. Jet2 had a net margin of 6.38% and a return on equity of 26.53%. On average, 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.

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