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

Jet2 plc (LON:JET2)’s share price traded down 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 traded 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).

Several other analysts also recently weighed in on JET2. JPMorgan Chase & Co. restated an “overweight” rating on shares of Jet2 in a research note on Friday, July 18th. Royal Bank Of Canada restated an “outperform” rating and set a GBX 2,200 target price on shares of Jet2 in a research note on Thursday, July 10th. Finally, Canaccord Genuity Group lowered their target price on Jet2 from GBX 2,335 to GBX 2,250 and set a “buy” rating for the company in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Jet2 currently has an average rating of “Buy” and a consensus target price of GBX 2,139.75.

Jet2 Stock Up 3.2%

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

Jet2 (LON:JET2) last issued its earnings results 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%. On average, research analysts anticipate that Jet2 plc will post 170.9134615 earnings per share for the current 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.