Norcros (LON:NXR) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Norcros plc (LON:NXR)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 310.93 and traded as low as GBX 284. Norcros shares last traded at GBX 285, with a volume of 42,843 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Shore Capital Group reaffirmed a “house stock” rating and issued a GBX 630 target price on shares of Norcros in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Norcros presently has an average rating of “Buy” and a consensus target price of GBX 460.

Norcros Stock Performance

The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 44.20. The firm has a market capitalization of £256.18 million, a P/E ratio of 20.36 and a beta of 1.02. The firm has a 50 day moving average of GBX 292.67 and a 200-day moving average of GBX 310.93.

Norcros Company Profile

Norcros is a market leading group of brands providing design led, high quality bathroom and kitchen products with operations primarily in the UK and South Africa.

Based in the UK, Norcros operates under six brands:

· Triton – Market leader in the manufacture and marketing of showers in the UK
· Merlyn – UK and Ireland’s No.1 supplier of shower enclosures and trays to the residential, commercial, and hospitality sectors
· Grant Westfield – Leading manufacturer of high-end waterproof bathroom wall panels
· Vado – Leading manufacturer and supplier of taps, mixer showers, bathroom accessories, and valves
· Croydex – Market-leading, innovative designer, manufacturer, and distributor of high-quality bathroom furnishings and accessories
· Abode – Leading niche designer and distributor of high-quality kitchen taps, bathroom taps, and kitchen sinks

Based in South Africa, Norcros operates under four brands:

· Tile Africa – Chain of retail stores focused on ceramic and porcelain tiles and associated products such as sanitaryware, showers, and adhesives
· Johnson Tiles South Africa – Manufacturer of ceramic and porcelain tiles
· TAL – Leading manufacturer of ceramic and building adhesives in South Africa
· House of Plumbing – Market-leading supplier of specialist plumbing materials

Norcros is headquartered in Wilmslow, Cheshire and employs around 2,100 people.