NEXT (LON:NXT) Shares Cross Below 200 Day Moving Average – Here’s Why

Shares of NEXT plc (LON:NXT) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of £132.82 and traded as low as £128.55. NEXT shares last traded at £133.30, with a volume of 190,529 shares traded.

Analysts Set New Price Targets

NXT has been the subject of several research analyst reports. Berenberg Bank reaffirmed a “buy” rating and set a £180 price target on shares of NEXT in a research note on Friday, May 15th. Citigroup reduced their price objective on NEXT from £135.42 to £132 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. UBS Group reaffirmed a “buy” rating and set a £152 target price on shares of NEXT in a research report on Wednesday, March 25th. Finally, Shore Capital Group reiterated a “buy” rating on shares of NEXT in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of £140.98.

NEXT Stock Performance

The stock has a market cap of £15.72 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 5.66 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.76 and a debt-to-equity ratio of 108.79. The firm has a 50 day moving average price of £130.61 and a 200 day moving average price of £132.81.

NEXT (LON:NXT) last announced its quarterly earnings results on Thursday, March 26th. The company reported GBX 760.10 EPS for the quarter. NEXT had a return on equity of 52.86% and a net margin of 12.87%. As a group, research analysts forecast that NEXT plc will post 660.7526882 earnings per share for the current year.

Insider Activity at NEXT

In other news, insider Amy Stirling purchased 375 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were purchased at an average price of £133.06 per share, for a total transaction of £49,897.50. Corporate insiders own 1.60% of the company’s stock.

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.