JD Sports Fashion (LON:JD) to Repurchase 0 Outstanding Stock

JD Sports Fashion (LON:JD) announced that its Board of Directors has approved a share repurchase plan on Monday, February 23rd, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “no recommendation” rating on shares of JD Sports Fashion in a report on Thursday, January 22nd. UBS Group reiterated a “neutral” rating and issued a GBX 94 price objective on shares of JD Sports Fashion in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of JD Sports Fashion from GBX 95 to GBX 85 and set a “hold” rating on the stock in a research report on Tuesday, February 3rd. Peel Hunt restated a “buy” rating and set a GBX 200 price objective on shares of JD Sports Fashion in a research report on Thursday, November 20th. Finally, Royal Bank Of Canada lowered their target price on JD Sports Fashion from GBX 88 to GBX 87 and set a “market perform” rating on the stock in a report on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, JD Sports Fashion currently has an average rating of “Hold” and a consensus target price of GBX 110.25.

JD Sports Fashion Stock Down 0.3%

Shares of LON JD traded down GBX 0.24 on Monday, hitting GBX 78.18. The company had a trading volume of 7,624,181 shares, compared to its average volume of 393,791. The company has a debt-to-equity ratio of 133.23, a current ratio of 1.42 and a quick ratio of 0.71. The firm has a market cap of £4.05 billion, a price-to-earnings ratio of 781.80, a P/E/G ratio of 1.05 and a beta of 1.65. The company has a 50-day moving average price of GBX 82.47 and a 200 day moving average price of GBX 87.25.

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.