JD Sports Fashion (LON:JD) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• JD Sports Fashion's stock price has recently surpassed its 200-day moving average, trading at GBX 89.06 ($1.18) with a high of GBX 91.29 ($1.21).
• Analysts have issued mixed ratings, with one buy rating from Berenberg Bank and a sell rating from Deutsche Bank, highlighting a consensus rating of "Hold" and an average price target of GBX 204.50 ($2.71).
• The company announced a share repurchase program, indicating management's belief that its shares are undervalued.

JD Sports Fashion Plc (LON:JD - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 81.08 ($1.08) and traded as high as GBX 91.29 ($1.21). JD Sports Fashion shares last traded at GBX 89.06 ($1.18), with a volume of 8,118,669 shares traded.

Analyst Ratings Changes

JD has been the topic of a number of research reports. Berenberg Bank restated a "buy" rating and issued a GBX 128 ($1.70) price objective on shares of JD Sports Fashion in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft raised their price objective on JD Sports Fashion from GBX 450 ($5.97) to GBX 490 ($6.50) and gave the company a "sell" rating in a research note on Friday, July 11th. Citigroup lifted their target price on JD Sports Fashion from GBX 83 ($1.10) to GBX 92 ($1.22) and gave the stock a "neutral" rating in a research report on Friday. Finally, Shore Capital reiterated a "hold" rating on shares of JD Sports Fashion in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of GBX 203.75 ($2.70).

JD Sports Fashion Stock Down 1.2%

The firm has a 50 day simple moving average of GBX 83.74 and a two-hundred day simple moving average of GBX 80.93. The company has a debt-to-equity ratio of 133.23, a quick ratio of 0.71 and a current ratio of 1.42. The stock has a market cap of £4.37 billion, a P/E ratio of 844.20, a P/E/G ratio of 1.05 and a beta of 1.65.

JD Sports Fashion (LON:JD - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported GBX 12.39 ($0.16) earnings per share (EPS) for the quarter. JD Sports Fashion had a return on equity of 14.97% and a net margin of 3.17%. Equities research analysts predict that JD Sports Fashion Plc will post 15.037961 earnings per share for the current year.

JD Sports Fashion declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 10th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

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.