Jet2 (LON:JET2) Stock Price Down 13.6% Following Analyst Downgrade

Jet2 plc (LON:JET2)’s share price traded down 13.6% 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 1,394 ($18.83). 19,107,965 shares were traded during trading, an increase of 1,695% from the average session volume of 1,064,601 shares. The stock had previously closed at GBX 1,613 ($21.79).

A number of other equities research analysts have also issued reports on JET2. Canaccord Genuity Group reduced their target price on shares of Jet2 from GBX 2,335 to GBX 2,250 and set a “buy” rating on the stock in a report on Thursday. 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. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Jet2 in a report on Friday, July 18th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of GBX 2,139.75.

Jet2 Stock Performance

The stock’s 50-day simple moving average is GBX 1,653.53 and its 200 day simple moving average is GBX 1,577.22. 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 has a market capitalization of £3.02 billion, a PE ratio of 702.70, a P/E/G ratio of 9.34 and a beta of 2.27.

Jet2 (LON:JET2) last announced its quarterly earnings data on Wednesday, July 9th. The company reported GBX 213.10 EPS for the quarter. Jet2 had a net margin of 6.38% and a return on equity of 26.53%. As a group, research analysts expect 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.