NEXT plc (NXT) Lowered to “Underperform” at Credit Suisse Group

Credit Suisse Group lowered shares of NEXT plc (LON:NXT) to an underperform rating in a report released on Thursday. They currently have GBX 4,000 ($50.60) price target on the stock, down from their prior price target of GBX 4,250 ($53.76).

A number of other analysts also recently issued reports on the stock. Investec upgraded shares of NEXT plc to a buy rating and raised their price target for the stock from GBX 3,900 ($49.34) to GBX 4,750 ($60.09) in a report on Wednesday, May 10th. Shore Capital restated a sell rating on shares of NEXT plc in a report on Monday, May 15th. Deutsche Bank AG cut their price target on shares of NEXT plc from GBX 4,900 ($61.99) to GBX 4,750 ($60.09) and set a hold rating for the company in a report on Friday, March 24th. HSBC Holdings plc cut their price target on shares of NEXT plc from GBX 3,530 ($44.66) to GBX 3,360 ($42.50) and set a reduce rating for the company in a report on Wednesday, May 17th. Finally, Canaccord Genuity downgraded shares of NEXT plc to a sell rating and cut their price target for the stock from GBX 4,400 ($55.66) to GBX 3,714 ($46.98) in a report on Friday, April 7th. Eight investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. NEXT plc presently has an average rating of Hold and a consensus price target of GBX 4,487.24 ($56.76).

Shares of NEXT plc (LON NXT) traded up 1.39% on Thursday, hitting GBX 4093.00. The company’s stock had a trading volume of 1,530,028 shares. NEXT plc has a one year low of GBX 3,550.00 and a one year high of GBX 5,705.00. The stock has a 50-day moving average price of GBX 4,330.44 and a 200 day moving average price of GBX 4,259.99. The firm’s market cap is GBX 5.84 billion.

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The firm also recently declared a dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Thursday, July 6th will be given a GBX 105 ($1.33) dividend. This represents a yield of 2.5%. The ex-dividend date is Thursday, July 6th. This is a boost from NEXT plc’s previous dividend of $53.00.

In other NEXT plc news, insider Michael J. Roney purchased 5,000 shares of the firm’s stock in a transaction on Monday, March 27th. The stock was bought at an average price of GBX 4,138 ($52.35) per share, with a total value of £206,900 ($261,733.08).

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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