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

Shares of Jet2 plc (LON:JET2) fell 15.2% 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 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).

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

Jet2 Trading Up 3.2%

The stock has a market cap of £3.02 billion, a price-to-earnings ratio of 702.70, a PEG 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 has a 50-day moving average of GBX 1,653.53 and a 200-day moving average of GBX 1,577.22.

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