Jet2 (LON:JET2) Trading Down 12.8% on Analyst Downgrade

Key Points

• Jet2 plc's stock price fell by 12.8% to GBX 1,406.44, significantly increasing its trading volume to approximately 17.9 million shares during the recent trading session.
• Analysts maintain a positive outlook, with a consensus rating of "Buy" and an average price target of GBX 2,240, indicating expected growth potential for the stock.
• Despite recent declines, Jet2 reported a net margin of 6.38% and a strong return on equity of 26.53% in its most recent earnings report.

Jet2 plc (LON:JET2 - Get Free Report) shares were down 12.8% during mid-day trading on Thursday after Royal Bank Of Canada lowered their price target on the stock from GBX 2,200 to GBX 2,150. Royal Bank Of Canada currently has an outperform rating on the stock. Jet2 traded as low as GBX 1,207 ($16.28) and last traded at GBX 1,406.44 ($18.97). Approximately 17,944,213 shares changed hands during mid-day trading, an increase of 1,596% from the average daily volume of 1,057,796 shares. The stock had previously closed at GBX 1,613 ($21.76).

A number of other research firms also recently issued reports on JET2. Deutsche Bank Aktiengesellschaft dropped their price target on Jet2 from GBX 2,150 to GBX 2,059 and set a "buy" rating on the stock in a research note on Thursday. Canaccord Genuity Group dropped their price target on Jet2 from GBX 2,335 to GBX 2,250 and set a "buy" rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Jet2 in a research note on Friday, July 18th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Jet2 presently has an average rating of "Buy" and an average price target of GBX 2,127.25.

Jet2 Trading Up 2.3%

The stock has a market cap of £2.91 billion, a PE ratio of 718.55, a P/E/G ratio of 9.34 and a beta of 2.27. The company has a quick ratio of 1.49, a current ratio of 1.36 and a debt-to-equity ratio of 103.30. The business's fifty day moving average is GBX 1,653.53 and its 200 day moving average is GBX 1,580.08.

Jet2 (LON:JET2 - Get Free Report) last announced its earnings results on Wednesday, July 9th. The company reported GBX 213.10 earnings per share for the quarter. Jet2 had a net margin of 6.38% and a return on equity of 26.53%. As a group, analysts predict that Jet2 plc will post 170.9134615 earnings per share 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.