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

Jet2 plc (LON:JET2) shares traded down 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 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).

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Jet2 in a report on Friday, July 18th. Canaccord Genuity Group decreased their price target on shares of 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 reissued an “outperform” rating and issued a GBX 2,200 price target on shares of Jet2 in a report on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of GBX 2,139.75.

Jet2 Stock Up 3.2%

The firm has a market capitalization of £3.02 billion, a P/E ratio of 702.70, a PEG ratio of 9.34 and a beta of 2.27. The firm’s 50-day moving average is GBX 1,653.53 and its 200 day moving average is 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.

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 net margin of 6.38% and a return on equity of 26.53%. As a group, equities research analysts predict that Jet2 plc will post 170.9134615 EPS for the current fiscal 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.