Share Buyback Program Authorized by JD Sports Fashion (LON:JD) Board

JD Sports Fashion (LON:JD) announced that its board has authorized a stock repurchase program on Monday, February 23rd, RTT News reports. The company plans to buyback 0 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on JD shares. UBS Group reaffirmed a “neutral” rating and issued a GBX 94 price objective on shares of JD Sports Fashion in a research note on Friday, January 16th. Peel Hunt reaffirmed a “buy” rating and set a GBX 200 price objective on shares of JD Sports Fashion in a research report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of JD Sports Fashion from GBX 95 to GBX 85 and set a “hold” rating on the stock in a research note on Tuesday, February 3rd. Royal Bank Of Canada decreased their target price on shares of JD Sports Fashion from GBX 88 to GBX 87 and set a “market perform” rating for the company in a research note on Monday, February 2nd. Finally, Citigroup lowered their price target on shares of JD Sports Fashion from GBX 87 to GBX 86 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of GBX 110.25.

JD Sports Fashion Trading Down 0.3%

JD stock traded down GBX 0.24 during midday trading on Monday, hitting GBX 78.18. The stock had a trading volume of 7,624,181 shares, compared to its average volume of 393,791. The firm has a market capitalization of £4.05 billion, a price-to-earnings ratio of 781.80, a price-to-earnings-growth ratio of 1.05 and a beta of 1.65. The stock’s 50 day simple moving average is GBX 82.47 and its 200-day simple moving average is GBX 87.25. The company has a quick ratio of 0.71, a current ratio of 1.42 and a debt-to-equity ratio of 133.23.

JD Sports Fashion Company Profile

JD Sports Fashion plc engages in the retail of branded sports fashion and outdoor clothing, footwear, accessories, and equipment for kids, women, and men. It operates through Sports Fashion and Outdoor segments. The company also retails leisure goods, sports goods, fishing gear, camping goods, boats, and bicycles, as well as distributes sports apparel and accessories, footwear, and apparel. It offers its products under the JD, Size?, Footpatrol, Finish Line, Shoe Palace, DTLR, Livestock, Sprinter, Sport Zone, Sizeer, JD Gyms, Tessuti, Scotts, Go Outdoors, Blacks, Millets, Tiso, Ultimate Outdoors, Fishing Republic, and Naylors brands.