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

Shares of Jet2 plc (LON:JET2) fell 15.2% during trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from GBX 2,150 to GBX 2,059. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Jet2 traded as low as GBX 1,207 ($16.30) and last traded at GBX 1,368.18 ($18.48). 3,217,243 shares changed hands during mid-day trading, an increase of 231% from the average session volume of 971,673 shares. The stock had previously closed at GBX 1,613 ($21.79).

Several other brokerages have also recently 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 dropped their price objective on Jet2 from GBX 2,335 to GBX 2,250 and set a “buy” rating for the company in a report on Thursday. Finally, Royal Bank Of Canada restated an “outperform” rating and set a GBX 2,200 price objective on shares of Jet2 in a report on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Jet2 currently has a consensus rating of “Buy” and an average price target of GBX 2,139.75.

Jet2 Trading Up 3.2%

The business has a fifty day moving average price of GBX 1,653.53 and a 200 day moving average price of GBX 1,577.22. The company has a debt-to-equity ratio of 103.30, a quick ratio of 1.49 and a current ratio of 1.36. The firm has a market capitalization of £3.02 billion, a price-to-earnings ratio of 702.70, a P/E/G ratio of 9.34 and a beta of 2.27.

Jet2 (LON:JET2) last announced its quarterly 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, equities analysts forecast 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.