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

Key Points

• Shore Capital Group reaffirmed its “buy” rating on NEXT and maintained a £150 price target, implying roughly 1% downside from the reported current price.
• Analyst sentiment is mixed: NEXT has three “buy” ratings and five “hold” ratings, resulting in a consensus rating of “Hold” and an average price target of £141.29.
• NEXT shares opened at £151.55 and were trading down 0.6%; the company has a £17.30 billion market capitalization and has traded between £112 and £161.75 over the past year.

NEXT (LON:NXT - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Shore Capital Group in a research note issued to investors on Wednesday,Digital Look reports. They presently have a £150 price target on the stock. Shore Capital Group's target price would suggest a potential downside of 1.02% from the stock's current price.

NXT has been the topic of a number of other research reports. Citigroup lowered their target price on NEXT from £135.42 to £132 and set a "neutral" rating on the stock in a report on Wednesday, April 8th. Berenberg Bank reissued a "buy" rating and issued a £180 price objective on shares of NEXT in a research report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, NEXT currently has an average rating of "Hold" and an average price target of £141.29.

NEXT Trading Down 0.6%

Shares of LON:NXT opened at £151.55 on Wednesday. The company has a debt-to-equity ratio of 108.79, a quick ratio of 1.07 and a current ratio of 1.76. The stock's 50-day moving average is £141.84 and its 200-day moving average is £134.77. The company has a market cap of £17.30 billion, a P/E ratio of 20.33, a P/E/G 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.

Insider Buying and Selling

In other news, insider Amy Stirling acquired 375 shares of the stock in a transaction dated Thursday, May 7th. The shares were acquired at an average cost of £133.06 per share, for a total transaction of £49,897.50. Also, insider Jonathan Blanchard sold 18,012 shares of the firm's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of £148.02, for a total value of £2,666,136.24. Insiders own 1.66% of the company's stock.

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.

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