NEXT plc (NXT) Stock Price Down 0.3% After Analyst Downgrade

NEXT plc (LON:NXT) fell 0.3% during mid-day trading on Monday after Deutsche Bank AG lowered their price target on the stock from GBX 4,250 to GBX 4,150. Deutsche Bank AG currently has a hold rating on the stock. NEXT plc traded as low as GBX 4,320 ($55.79) and last traded at GBX 4,342 ($56.08). 519,693 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 619,874 shares. The stock had previously closed at GBX 4,354 ($56.23).

NXT has been the topic of several other research reports. Barclays PLC reaffirmed an “underweight” rating and set a GBX 3,900 ($50.37) price target on shares of NEXT plc in a research report on Friday, June 30th. Jefferies Group LLC boosted their price target on NEXT plc from GBX 3,850 ($49.72) to GBX 4,600 ($59.41) and gave the stock an “underperform” rating in a research report on Friday, August 11th. Shore Capital reaffirmed a “sell” rating on shares of NEXT plc in a research report on Monday, May 15th. HSBC Holdings plc lowered their price target on NEXT plc from GBX 3,530 ($45.59) to GBX 3,360 ($43.39) and set a “reduce” rating on the stock in a research report on Wednesday, May 17th. Finally, Credit Suisse Group reaffirmed an “underperform” rating and set a GBX 4,000 ($51.66) price target on shares of NEXT plc in a research report on Friday, September 1st. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of GBX 4,480.10 ($57.86).

In other news, insider Michael J. Roney purchased 9,061 shares of NEXT plc stock in a transaction that occurred 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 purchased 450 shares of NEXT plc stock in a transaction that occurred 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).

The stock’s market capitalization is GBX 6.28 billion. The stock’s 50 day moving average is GBX 4,176.70 and its 200-day moving average is GBX 4,126.02.

The company also recently announced a dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Thursday, October 5th will be given a GBX 45 ($0.58) dividend. This represents a yield of 1.02%. The ex-dividend date of this dividend is Thursday, October 5th.

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NEXT plc Company Profile

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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