JD Sports Fashion (LON:JD) Initiates Share Buyback Plan

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on JD shares. Deutsche Bank Aktiengesellschaft cut 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. Berenberg Bank reissued a “buy” rating and set a GBX 155 target price on shares of JD Sports Fashion in a research note on Thursday, January 22nd. UBS Group restated a “neutral” rating and set a GBX 94 price target on shares of JD Sports Fashion in a research report on Friday, January 16th. Citigroup reduced their price target on shares of JD Sports Fashion from GBX 87 to GBX 86 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Finally, Royal Bank Of Canada decreased their price objective on shares of JD Sports Fashion from GBX 88 to GBX 87 and set a “market perform” rating for the company in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, JD Sports Fashion currently has an average rating of “Hold” and an average price target of GBX 110.25.

JD Sports Fashion Trading Down 0.3%

Shares of JD Sports Fashion stock opened at GBX 78.18 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 0.71 and a debt-to-equity ratio of 133.23. The business has a 50 day simple moving average of GBX 82.47 and a 200-day simple moving average of GBX 87.25. The company has a market capitalization of £4.05 billion, a PE ratio of 781.80, a PEG ratio of 1.05 and a beta of 1.65.

About JD Sports Fashion

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.