Jet2 (LON:JET2) Trading Down 13.6% on Analyst Downgrade

Jet2 plc (LON:JET2)’s stock price fell 13.6% 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).

Several other research firms have also recently commented on JET2. JPMorgan Chase & Co. restated an “overweight” rating on shares of Jet2 in a research note on Friday, July 18th. Canaccord Genuity Group reduced their target price on shares of Jet2 from GBX 2,335 to GBX 2,250 and set a “buy” rating for the company in a research note on Thursday. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a GBX 2,200 target price on shares of Jet2 in a research note on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, Jet2 presently has an average rating of “Buy” and an average price target of GBX 2,139.75.

Jet2 Price Performance

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 company’s 50 day moving average is GBX 1,653.53 and its 200 day moving average is GBX 1,577.22. The stock has a market cap of £3.02 billion, a price-to-earnings ratio of 702.70, a PEG 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%. Research analysts forecast that Jet2 plc will post 170.9134615 earnings per share 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.