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

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 were traded 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).

JET2 has been the topic of a number of other reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Jet2 in a report on Friday, July 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 2,200 price objective on shares of Jet2 in a report on Thursday, July 10th. Finally, Canaccord Genuity Group cut their target price on Jet2 from GBX 2,335 to GBX 2,250 and set a “buy” rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Jet2 presently has a consensus rating of “Buy” and a consensus price target of GBX 2,139.75.

Jet2 Trading Up 3.2%

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 P/E ratio of 702.70, a P/E/G ratio of 9.34 and a beta of 2.27. The firm has a 50-day moving average of GBX 1,653.53 and a two-hundred day moving average of GBX 1,577.22.

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