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

Jet2 plc (LON:JET2) shares were down 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 changed 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 research analysts also recently weighed in on JET2. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 2,200 target price on shares of Jet2 in a report on Thursday, July 10th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Jet2 in a report on Friday, July 18th. Finally, Canaccord Genuity Group reduced their target price on Jet2 from GBX 2,335 to GBX 2,250 and set a “buy” rating on the stock in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 2,139.75.

Jet2 Trading Up 3.2%

The company has a debt-to-equity ratio of 103.30, a quick ratio of 1.49 and a current ratio of 1.36. The stock has a fifty day moving average of GBX 1,653.53 and a 200 day moving average of GBX 1,577.22. The company has a market capitalization 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 posted its quarterly 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%. As a group, equities research analysts anticipate 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.