Shore Capital Group Reiterates "Hold" Rating for JD Sports Fashion (LON:JD)

Key Points

• Shore Capital Group reiterated a Hold rating on JD Sports Fashion; the consensus is also Hold (3 Buy, 4 Hold, 1 Sell) with an average target price of GBX 233.
• Shares traded down to GBX 65.28 on Wednesday with unusually heavy volume (24.09M vs. average 393,791), leaving the stock trading well below analysts' average target.
• JD's board announced a share repurchase program authorizing open-market buybacks, a signal management often uses when it views the stock as undervalued.

JD Sports Fashion (LON:JD - Get Free Report)'s stock had its "hold" rating reiterated by equities research analysts at Shore Capital Group in a research report issued to clients and investors on Wednesday,Digital Look reports.

Several other equities research analysts have also issued reports on the company. Citigroup dropped their price target on 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. UBS Group reaffirmed a "neutral" rating and set a GBX 94 target price on shares of JD Sports Fashion in a report on Tuesday. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 840 target price on shares of JD Sports Fashion in a report on Wednesday. JPMorgan Chase & Co. reaffirmed a "no recommendation" rating on shares of JD Sports Fashion in a report on Thursday, January 22nd. 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 for the company in a report on Monday, February 2nd. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, JD Sports Fashion presently has a consensus rating of "Hold" and an average target price of GBX 233.

JD Sports Fashion Price Performance

Shares of JD stock traded down GBX 2.02 on Wednesday, hitting GBX 65.28. 24,093,106 shares of the stock traded hands, 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 company has a market cap of £3.38 billion, a P/E ratio of 652.80, a PEG ratio of 1.05 and a beta of 1.65. The stock's fifty day moving average is GBX 73.33 and its two-hundred day moving average is GBX 80.28.

JD Sports Fashion declared that its board has initiated a share repurchase plan on Monday, February 23rd that permits the company to buyback 0 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's leadership 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. 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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