NEXT (LON:NXT) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

NEXT plc (LON:NXT)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of £130.89 and traded as low as £127.40. NEXT shares last traded at £127.90, with a volume of 430,746 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of NEXT in a research report on Wednesday, January 7th. Peel Hunt restated a “hold” rating and set a £130 target price on shares of NEXT in a report on Tuesday, November 25th. Jefferies Financial Group reiterated a “hold” rating and set a £140 target price on shares of NEXT in a research note on Wednesday, January 7th. Berenberg Bank upped their price target on shares of NEXT from £147 to £178 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Shore Capital Group downgraded NEXT to a “hold” rating and lifted their target price for the stock from £140 to £147.50 in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NEXT has an average rating of “Hold” and a consensus price target of £140.54.

NEXT Price Performance

The stock has a market cap of £14.86 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 5.66 and a beta of 1.37. The business has a 50-day simple moving average of £135.02 and a 200 day simple moving average of £130.89. The company has a current ratio of 1.68, a quick ratio of 1.07 and a debt-to-equity ratio of 76.08.

Insider Activity

In other NEXT news, insider Jeremy Stakol acquired 186 shares of the company’s stock in a transaction on Monday, December 1st. The shares were purchased at an average cost of GBX 3,869 per share, with a total value of £7,196.34. 1.60% of the stock is currently owned by corporate 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.