Jet2 (LON:JET2) Trading Down 15.2% After Analyst Downgrade

Jet2 plc (LON:JET2)’s stock price was down 15.2% 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 1,368.18 ($18.48). Approximately 3,217,243 shares traded hands during trading, an increase of 231% from the average daily volume of 971,673 shares. The stock had previously closed at GBX 1,613 ($21.79).

Other analysts have also issued research reports about the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 2,200 price objective on shares of Jet2 in a research report on Thursday, July 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Jet2 in a research report on Friday, July 18th. Finally, 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 research report on Thursday. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 2,139.75.

Jet2 Stock Performance

The firm has a fifty day simple moving average of GBX 1,653.53 and a 200-day simple moving average of GBX 1,577.22. The company has a market cap of £3.02 billion, a PE ratio of 702.70, a price-to-earnings-growth 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.

Jet2 (LON:JET2) last issued 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%. On average, research analysts forecast 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.