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

Jet2 plc (LON:JET2) shares 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 were traded 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).

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

Jet2 Stock Performance

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 company has a debt-to-equity ratio of 103.30, a quick ratio of 1.49 and a current ratio of 1.36. The company’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 announced its quarterly earnings data 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%. Equities research analysts predict 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.