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

JD Sports Fashion (LON:JD) declared that its board has authorized a share repurchase program on Thursday, April 10th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on JD. Berenberg Bank restated a “buy” rating and issued a GBX 128 ($1.68) target price on shares of JD Sports Fashion in a research note on Thursday. Shore Capital reissued a “buy” rating on shares of JD Sports Fashion in a research report on Thursday. Finally, Citigroup downgraded shares of JD Sports Fashion to a “neutral” rating and reduced their target price for the stock from GBX 150 ($1.96) to GBX 95 ($1.24) in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, JD Sports Fashion currently has an average rating of “Hold” and a consensus price target of GBX 109.50 ($1.43).

JD Sports Fashion Stock Performance

Shares of JD Sports Fashion stock traded up GBX 4.24 ($0.06) during midday trading on Friday, hitting GBX 73.42 ($0.96). The company had a trading volume of 23,842,643 shares, compared to its average volume of 393,791. The company has a quick ratio of 0.71, a current ratio of 1.42 and a debt-to-equity ratio of 133.23. The firm has a market cap of £3.80 billion, a PE ratio of 734.20, a P/E/G ratio of 1.05 and a beta of 1.65. The firm has a 50-day moving average price of GBX 76.54 and a 200 day moving average price of GBX 98.84.

Insiders Place Their Bets

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

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.