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

Shares of Jet2 plc (LON:JET2) traded down 15.2% during mid-day 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 ($18.48). 18,762,584 shares were traded during mid-day 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 ($21.79).

Several other equities analysts have also recently issued reports on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 2,200 price objective on shares of Jet2 in a research report on Thursday, July 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Jet2 in a research report on Friday, July 18th. Finally, Canaccord Genuity Group lowered their price objective on Jet2 from GBX 2,335 to GBX 2,250 and set a “buy” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of GBX 2,139.75.

Jet2 Stock Performance

The company has a current ratio of 1.36, a quick ratio of 1.49 and a debt-to-equity ratio of 103.30. The firm has a market capitalization of £3.02 billion, a PE ratio of 702.70, a price-to-earnings-growth ratio of 9.34 and a beta of 2.27. The business’s 50 day simple moving average is GBX 1,653.53 and its two-hundred day simple moving average is GBX 1,577.22.

Jet2 (LON:JET2) last posted its quarterly earnings data on Wednesday, July 9th. The company reported GBX 213.10 EPS for the quarter. Jet2 had a return on equity of 26.53% and a net margin of 6.38%. Research analysts expect that Jet2 plc will post 170.9134615 earnings per share 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.