Jet2 (LON:JET2) Trading Down 12.2% After Analyst Downgrade

Shares of Jet2 plc (LON:JET2) fell 12.2% 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 1,416.94 ($19.14). 19,518,779 shares changed hands during trading, an increase of 1,729% from the average session volume of 1,067,003 shares. The stock had previously closed at GBX 1,613 ($21.79).

JET2 has been the topic of a number of other research reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Jet2 in a research note on Friday, July 18th. Canaccord Genuity Group decreased 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 research note on Thursday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 2,200 target price on shares of Jet2 in a research note on Thursday, July 10th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 2,139.75.

Jet2 Trading Up 3.2%

The firm has a market cap 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 current ratio of 1.36 and a quick ratio of 1.49. The firm’s fifty day moving average is GBX 1,653.53 and its 200-day moving average is GBX 1,577.22.

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