JD Sports Fashion (LON:JD) Receives "Hold" Rating from Shore Capital Group

Key Points

• Shore Capital reiterated a "Hold" on JD Sports, and MarketBeat shows a consensus rating of Hold with a consensus price target of GBX 157.13 (analyst split: 2 Buy, 4 Hold, 1 Sell).
• Shares traded down to GBX 76.40 on Wednesday with heavy volume (~9.45M vs. average ~394k); the company has a market cap of £3.96bn and a very high P/E of about 764.
• JD's board has initiated a share buyback program authorizing open‑market purchases, a signal management may view the stock as undervalued.

JD Sports Fashion (LON:JD - Get Free Report)'s stock had its "hold" rating reiterated by research analysts at Shore Capital Group in a research note issued to investors on Wednesday,London Stock Exchange reports.

Several other research analysts have also commented on JD. JPMorgan Chase & Co. restated a "no recommendation" rating on shares of JD Sports Fashion in a research note on Thursday, January 22nd. Royal Bank Of Canada dropped their price target on shares of JD Sports Fashion from GBX 88 to GBX 87 and set a "market perform" rating on the stock in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of JD Sports Fashion from GBX 490 to GBX 460 and set a "sell" rating on the stock in a research report on Monday, March 23rd. Citigroup dropped 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 research report on Tuesday, February 3rd. Finally, Berenberg Bank reissued a "buy" rating and issued a GBX 155 price target on shares of JD Sports Fashion in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, JD Sports Fashion currently has a consensus rating of "Hold" and a consensus price target of GBX 157.13.

JD Sports Fashion Stock Down 0.6%

Shares of JD traded down GBX 0.48 during mid-day trading on Wednesday, hitting GBX 76.40. 9,449,087 shares of the company's stock were exchanged, compared to its average volume of 393,791. The firm's fifty day simple moving average is GBX 74.79 and its two-hundred day simple moving average is GBX 81.90. The firm has a market capitalization of £3.96 billion, a PE ratio of 764.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.65. The company has a current ratio of 1.42, a quick ratio of 0.71 and a debt-to-equity ratio of 133.23.

JD Sports Fashion declared that its Board of Directors has initiated a share buyback program on Monday, February 23rd that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

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.

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