NEXT (LON:NXT) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• NEXT shares rose above their 200-day moving average, reaching £154 before last trading at £151.75, compared with a 200-day average of £138.16.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy and five rate it a Hold, producing an overall “Hold” consensus and an average price target of £153.55.
• Recent insider activity was mixed, with one insider selling shares worth about £2.67 million and another purchasing 160 shares for roughly £24,872.

Shares of NEXT plc (LON:NXT - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of £138.16 and traded as high as £154. NEXT shares last traded at £151.75, with a volume of 289,282 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NXT. JPMorgan Chase & Co. raised their price objective on shares of NEXT from £130.30 to £140.40 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Berenberg Bank raised their price target on NEXT from £180 to £187 and gave the company a "buy" rating in a report on Thursday, August 6th. Shore Capital Group reiterated a "buy" rating and issued a £175 price objective on shares of NEXT in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a £140 target price on shares of NEXT in a report on Thursday, August 6th. Finally, Citigroup lifted their price target on NEXT from £132 to £155 and gave the company a "neutral" rating in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of £153.55.

NEXT Price Performance

The company's 50 day simple moving average is £150.37 and its 200 day simple moving average is £138.16. The company has a debt-to-equity ratio of 108.79, a current ratio of 1.76 and a quick ratio of 1.07. The stock has a market cap of £17.32 billion, a P/E ratio of 20.36, a P/E/G ratio of 5.66 and a beta of 1.04.

Insider Transactions at NEXT

In related news, insider Jonathan Blanchard sold 18,012 shares of the firm's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of £148.02, for a total value of £2,666,136.24. Also, insider Jeni Mundy acquired 160 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was bought at an average price of £155.45 per share, with a total value of £24,872. 1.65% of the stock is currently owned by corporate insiders.

About NEXT

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.

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