NEXT (LON:NXT) Stock Breaks Above 50-Day Moving Average – What’s Next?

NEXT plc (LON:NXT) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of £149.29 and traded as high as £151.88. NEXT shares last traded at £151.55, with a volume of 41,320,590 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on NXT shares. Shore Capital Group restated a “buy” rating and issued a £175 price objective on shares of NEXT in a report on Thursday, September 17th. JPMorgan Chase & Co. lifted their price objective on NEXT from £130.30 to £140.40 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Citigroup upped their target price on NEXT from £132 to £155 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Jefferies Financial Group reiterated a “hold” rating and set a £158 target price on shares of NEXT in a report on Wednesday, October 21st. Finally, Peel Hunt reissued a “hold” rating and issued a £139 target price on shares of NEXT in a research report on Wednesday, August 5th. Three equities research 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, the stock currently has an average rating of “Hold” and an average target price of £155.80.

NEXT Stock Performance

The company has a market capitalization of £17.30 billion, a PE ratio of 19.28, a PEG ratio of 5.66 and a beta of 1.07. The business’s 50-day moving average is £149.29 and its 200-day moving average is £139.56. The company has a debt-to-equity ratio of 129.98, a quick ratio of 1.07 and a current ratio of 1.55.

NEXT (LON:NXT) last announced its quarterly earnings data on Thursday, September 17th. The company reported GBX 364.30 earnings per share for the quarter. NEXT had a net margin of 12.89% and a return on equity of 58.63%. On average, research analysts anticipate that NEXT plc will post 660.75 earnings per share for the current year.

Insider Activity

In other NEXT news, insider Jeni Mundy acquired 160 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of £155.45 per share, with a total value of £24,872. Corporate insiders own 1.49% 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.