Jet2 (LON:JET2) Trading Down 14.3% After Analyst Downgrade

Jet2 plc (LON:JET2) traded down 14.3% 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 1,383 ($18.68). 18,978,691 shares traded hands during mid-day trading, an increase of 1,684% from the average session volume of 1,063,845 shares. The stock had previously closed at GBX 1,613 ($21.79).

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

Jet2 Stock Up 3.2%

The company’s 50 day moving average price is GBX 1,653.53 and its 200 day moving average price is GBX 1,577.22. 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 firm has a market capitalization of £3.02 billion, a price-to-earnings ratio of 702.70, a P/E/G ratio of 9.34 and a beta of 2.27.

Jet2 (LON:JET2) last posted its earnings results on Wednesday, July 9th. The company reported GBX 213.10 earnings per share (EPS) for the quarter. Jet2 had a net margin of 6.38% and a return on equity of 26.53%. As a group, research analysts forecast 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.