JD Sports Fashion (LON:JD) Board Approves Share Buyback Program

JD Sports Fashion (LON:JD) announced that its board has initiated a share repurchase plan on Thursday, April 10th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on JD. Citigroup cut shares of JD Sports Fashion to a “neutral” rating and dropped their price objective for the stock from GBX 150 ($1.96) to GBX 95 ($1.24) in a report on Thursday, January 23rd. Berenberg Bank restated a “buy” rating and issued a GBX 128 ($1.68) price target on shares of JD Sports Fashion in a research note on Thursday. Finally, Shore Capital reaffirmed a “buy” rating on shares of JD Sports Fashion in a report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of GBX 109.50 ($1.43).

JD Sports Fashion Stock Down 1.8 %

JD stock opened at GBX 72.12 ($0.94) on Friday. The business has a fifty day moving average of GBX 76.54 and a 200-day moving average of GBX 98.84. The firm has a market capitalization of £3.74 billion, a P/E ratio of 721.20, a P/E/G ratio of 1.05 and a beta of 1.65. The company has a quick ratio of 0.71, a current ratio of 1.42 and a debt-to-equity ratio of 133.23.

Insiders Place Their Bets

In other news, insider Regis Schultz acquired 109,933 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was acquired at an average price of GBX 90 ($1.18) per share, for a total transaction of £98,939.70 ($129,502.23). 51.91% of the stock is owned by insiders.

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.