Jet2 (LON:JET2) Shares Down 15.2% After Analyst Downgrade

Jet2 plc (LON:JET2)’s share price fell 15.2% during mid-day trading on Friday 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 traded hands 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).

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

Jet2 Trading Up 3.2%

The business’s 50-day simple moving average is GBX 1,653.53 and its two-hundred day simple moving average is GBX 1,578.47. The company has a quick ratio of 1.49, a current ratio of 1.36 and a debt-to-equity ratio of 103.30. The firm has a market capitalization 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 posted 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%. Equities analysts forecast 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.