Shares of NEXT plc (LON:NXT) have received an average “Hold” rating from six research firms currently covering the retailer. According to MarketBeat.com, four analysts have assigned a hold rating, while two have given the stock a buy rating. The average target price among these analysts stands at £140.63 for the next year.
Several notable firms recently provided updates on NEXT shares. On September 5, 2023, UBS Group reaffirmed a buy rating and set a price target of £142. On October 30, 2023, JPMorgan Chase & Co. raised their target from £117 to £130.30, maintaining a neutral rating. Peel Hunt reiterated a hold rating with a target of £130 in a report released on November 4, 2023. Meanwhile, Shore Capital upgraded their price target from £140 to £147.50, while also assigning a hold rating. Lastly, Deutsche Bank Aktiengesellschaft increased their price objective from £108 to £116, maintaining a hold rating as of August 26, 2023.
NEXT’s Financial Performance
NEXT recently announced its earnings results on September 18, 2023, reporting earnings per share (EPS) of GBX 324.20 for the quarter. The company recorded a return on equity of 55.99% and a net margin of 13.77%. Analysts expect NEXT to post an EPS of approximately £660.75 for the current fiscal year, reflecting the company’s ongoing performance in the retail sector.
Insider Transactions at NEXT
In related news, insider Amy Stirling purchased 472 shares of NEXT on September 18, 2023, at an average price of £116.34 per share, totaling £54,912.48. Conversely, Wolfson Aspley Guise, another insider, sold 50,000 shares on October 29, 2023 at an average price of £145.20, amounting to £7,260,000. Company insiders currently hold 1.60% of NEXT’s stock.
Founded in 1864 in Leeds by Joseph Hepworth and Son, NEXT has evolved from a tailoring business to a comprehensive retailer offering clothing, footwear, accessories, beauty, and home products to customers both in the UK and internationally. The company operates over 500 stores across the United Kingdom and Ireland and maintains over 180 franchise branches across Europe, Asia, and the Middle East.
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