Jet2 (LON:JET2) Stock Price Down 15.2% After Analyst Downgrade

Key Points

• Jet2's stock price fell by 15.2% during mid-day trading, closing at GBX 1,368 ($18.39) after hitting a low of GBX 1,207 ($16.22).
• Despite the recent decline, analysts remain optimistic with a consensus "Buy" rating and an average price target of GBX 2,240, with some firms indicating price targets as high as GBX 2,325.
• Jet2 has a significant market capitalization of £2.86 billion and reported an EPS of GBX 213.10 for the latest quarter, as well as a strong return on equity of 26.53%.

Shares of Jet2 plc (LON:JET2 - Get Free Report) fell 15.2% 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 ($16.35) and last traded at GBX 1,368 ($18.53). 18,762,584 shares changed hands during trading, an increase of 1,666% from the average session volume of 1,062,581 shares. The stock had previously closed at GBX 1,613 ($21.85).

A number of other brokerages have also issued reports on JET2. JPMorgan Chase & Co. reissued an "overweight" rating on shares of Jet2 in a research note on Friday, July 18th. Canaccord Genuity Group lowered their target price on shares of Jet2 from GBX 2,335 to GBX 2,250 and set a "buy" rating for the company in a research note on Thursday, September 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Jet2 from GBX 2,150 to GBX 2,059 and set a "buy" rating for the company in a research note on Thursday, September 4th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Jet2 currently has a consensus rating of "Buy" and an average target price of GBX 2,127.25.

Jet2 Trading Up 0.7%

The company has a debt-to-equity ratio of 103.30, a current ratio of 1.36 and a quick ratio of 1.49. The stock has a market cap of £2.93 billion, a price-to-earnings ratio of 723.43, a P/E/G ratio of 9.34 and a beta of 2.27. The company's fifty day moving average price is GBX 1,646.40 and its 200-day moving average price is GBX 1,580.83.

Jet2 (LON:JET2 - Get Free Report) last posted 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, research analysts expect that Jet2 plc will post 170.9134615 EPS for the current fiscal 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.