Jet2 (LON:JET2) Trading Down 12.2% After Analyst Downgrade

Jet2 plc (LON:JET2)’s share price fell 12.2% 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 1,416.72 ($19.13). 19,551,631 shares changed hands during trading, an increase of 1,732% from the average session volume of 1,067,196 shares. The stock had previously closed at GBX 1,613 ($21.79).

A number of other research analysts have also weighed in on JET2. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 2,200 price objective on shares of Jet2 in a report on Thursday, July 10th. Canaccord Genuity Group cut their price objective 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. reissued an “overweight” rating on shares of Jet2 in a report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of GBX 2,139.75.

Jet2 Price Performance

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

Jet2 (LON:JET2) last issued 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%. As a group, equities analysts predict 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.