NEXT plc’s (NXT) Sell Rating Reiterated at Berenberg Bank
NEXT plc (LON:NXT)‘s stock had its “sell” rating reissued by investment analysts at Berenberg Bank in a research note issued to investors on Thursday. They currently have a GBX 3,650 ($47.14) price target on the stock. Berenberg Bank’s price objective suggests a potential downside of 26.91% from the company’s current price.
Other analysts also recently issued research reports about the company. Investec reaffirmed a “buy” rating and issued a GBX 4,750 ($61.35) price objective on shares of NEXT plc in a research note on Thursday, August 3rd. Peel Hunt reaffirmed a “hold” rating and issued a GBX 4,200 ($54.24) price objective on shares of NEXT plc in a research note on Thursday, August 3rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a GBX 4,250 ($54.89) price objective on shares of NEXT plc in a research note on Tuesday, July 18th. Jefferies Group LLC raised NEXT plc to a “hold” rating and lifted their price objective for the stock from GBX 3,500 ($45.20) to GBX 3,850 ($49.72) in a research note on Thursday, July 27th. Finally, Shore Capital reissued a “hold” rating on shares of NEXT plc in a research report on Thursday, August 3rd. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of GBX 4,489.10 ($57.98).
NEXT plc (NXT) traded up 1.02% during mid-day trading on Thursday, hitting GBX 5045.00. The stock had a trading volume of 1,306,682 shares. The stock’s 50-day moving average price is GBX 4,229.86 and its 200-day moving average price is GBX 4,136.47. NEXT plc has a 12 month low of GBX 3,565.00 and a 12 month high of GBX 5,225.00. The stock’s market cap is GBX 7.20 billion.
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In other news, insider Michael J. Roney bought 9,061 shares of the stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of GBX 4,386 ($56.64) per share, for a total transaction of £397,415.46 ($513,257.73). Also, insider Caroline Goodall bought 450 shares of the stock in a transaction on Monday, August 7th. The stock was purchased at an average price of GBX 4,294 ($55.46) per share, with a total value of £19,323 ($24,955.44).
About NEXT plc
NEXT plc is a United Kingdom-based retailer offering clothing, footwear, accessories and home products. The Company’s segments include NEXT Retail, a chain of over 500 stores in the United Kingdom and Eire; NEXT Directory, an online and catalogue shopping business with over four million active customers and international Websites serving approximately 70 countries; NEXT International Retail, with approximately 200 mainly franchised stores; NEXT Sourcing, which designs and sources NEXT branded products; Lipsy, which designs and sells Lipsy branded younger women’s fashion products, and Property Management, which holds properties and property leases which are sub-let to other segments and external parties.
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