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

Shares of Jet2 plc (LON:JET2) dropped 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). 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).

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

Jet2 Stock Up 3.2%

The company has a current ratio of 1.36, a quick ratio of 1.49 and a debt-to-equity ratio of 103.30. The company has a market capitalization of £3.02 billion, a price-to-earnings ratio of 702.70, a price-to-earnings-growth ratio of 9.34 and a beta of 2.27. The firm’s fifty day simple moving average is GBX 1,653.53 and its two-hundred day simple moving average is GBX 1,577.22.

Jet2 (LON:JET2) last posted its earnings results on Wednesday, July 9th. The company reported GBX 213.10 earnings per share for the quarter. Jet2 had a net margin of 6.38% and a return on equity of 26.53%. Sell-side analysts anticipate that Jet2 plc will post 170.9134615 EPS 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.