Shore Capital Group Reaffirms Buy Rating for NEXT (LON:NXT)

NEXT (LON:NXT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Shore Capital Group in a report released on Thursday,London Stock Exchange reports. They presently have a £175 target price on the stock. Shore Capital Group’s price objective suggests a potential upside of 12.32% from the stock’s previous close.

Several other brokerages have also recently weighed in on NXT. Berenberg Bank reiterated a “buy” rating and issued a £180 price objective on shares of NEXT in a research note on Friday, May 15th. Citigroup decreased their target price on shares of NEXT from £135.42 to £132 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Finally, Peel Hunt reaffirmed a “hold” rating and set a £139 target price on shares of NEXT in a report on Wednesday. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of £153.55.

NEXT Trading Down 0.5%

Shares of NEXT stock opened at £155.80 on Thursday. The firm has a 50-day moving average of £144.28 and a 200-day moving average of £135.15. The stock has a market cap of £17.78 billion, a PE ratio of 20.90, a PEG ratio of 5.66 and a beta of 1.04. NEXT has a 52-week low of £112 and a 52-week high of £161.75. The company has a debt-to-equity ratio of 108.79, a quick ratio of 1.07 and a current ratio of 1.76.

Insiders Place Their Bets

In related news, insider Jonathan Blanchard sold 18,012 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of £148.02, for a total value of £2,666,136.24. 1.66% of the stock is owned by company insiders.

NEXT Company Profile

Founded as a tailoring business in Leeds in 1864 by Joseph Hepworth and Son, today, the company offers clothing, footwear, accessories, beauty and home products to our UK and International customers.

NEXT has over 500 stores in the United Kingdom and Eire, and over 180 franchise branches across Europe, Asia and the Middle East. The company’s main divisions are NEXT Online, NEXT Retail and NEXT Finance. We also launched Total Platform, an online, distribution, tech and logistics solution, in 2020.