Jet2 (LON:JET2) Stock Price Down 13.2% After Analyst Downgrade

Key Points

• Jet2 plc saw its stock price decrease by 13.2% following a downgrade by Canaccord Genuity Group, which revised their price target from GBX 2,335 to GBX 2,250.
• The stock experienced an unusual trading volume, with approximately 19.3 million shares traded, a significant increase of 1,709% compared to its average daily volume.
• Despite the downgrade, Jet2 holds a consensus rating of "Buy" from five equities research analysts, with an average target price of GBX 2,221.25.

Jet2 plc (LON:JET2 - Get Free Report)'s stock price was down 13.2% during 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 1,400 ($18.82). Approximately 19,273,711 shares were traded during trading, an increase of 1,709% from the average daily volume of 1,065,570 shares. The stock had previously closed at GBX 1,613 ($21.68).

A number of other research analysts also recently issued reports on JET2. JPMorgan Chase & Co. restated an "overweight" rating on shares of Jet2 in a research report on Friday, July 18th. Royal Bank Of Canada reiterated an "outperform" rating and issued a GBX 2,200 price objective on shares of Jet2 in a research report on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Jet2 currently has a consensus rating of "Buy" and a consensus target price of GBX 2,221.25.

Jet2 Stock Down 13.2%

The firm has a market cap of £2.90 billion, a PE ratio of 675.68, a PEG ratio of 9.34 and a beta of 2.27. The business's 50 day moving average price is GBX 1,669.90 and its 200 day moving average price 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 released its earnings results 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, equities research analysts expect that Jet2 plc will post 170.9134615 earnings per share for the current year.

Jet2 Company Profile

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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