Next (NXT) Given “Sell” Rating at Citigroup

Citigroup reiterated their sell rating on shares of Next (LON:NXT) in a report issued on Wednesday morning.

Other analysts have also recently issued research reports about the company. Deutsche Bank increased their target price on Next from GBX 4,850 ($65.79) to GBX 4,900 ($66.47) and gave the stock a hold rating in a report on Tuesday, April 24th. Shore Capital restated a hold rating on shares of Next in a report on Wednesday, March 21st. AlphaValue upgraded Next to a reduce rating in a report on Tuesday, April 10th. JPMorgan Chase increased their target price on Next from GBX 4,830 ($65.52) to GBX 5,240 ($71.08) and gave the stock a neutral rating in a report on Friday, May 11th. Finally, Royal Bank of Canada upgraded Next to an outperform rating and increased their target price for the stock from GBX 4,800 ($65.11) to GBX 5,500 ($74.61) in a report on Thursday, January 25th. Twelve research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of GBX 4,506.57 ($61.13).

LON:NXT traded up GBX 122 ($1.65) during trading hours on Wednesday, reaching GBX 5,752 ($78.02). The company had a trading volume of 350,831 shares, compared to its average volume of 625,680. Next has a one year low of GBX 3,565 ($48.36) and a one year high of GBX 5,355 ($72.64).

The company also recently declared a dividend, which will be paid on Wednesday, August 1st. Investors of record on Thursday, July 5th will be issued a GBX 105 ($1.42) dividend. This is a boost from Next’s previous dividend of $45.00. The ex-dividend date of this dividend is Thursday, July 5th. This represents a yield of 2.11%.

In other news, insider Michael J. Roney purchased 1,263 shares of the firm’s stock in a transaction that occurred on Friday, April 6th. The shares were acquired at an average price of GBX 4,723 ($64.07) per share, for a total transaction of £59,651.49 ($80,916.29).

Next Company Profile

NEXT plc engages in the retail of clothing, footwear, accessories, and home products for men, women, and children in the United Kingdom, rest of Europe, the Middle East, Asia, and internationally. The company operates a chain of approximately 540 stores under the name NEXT Retail in the United Kingdom and Eire.

Analyst Recommendations for Next (LON:NXT)

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