Norcros’ (NXR) House Stock Rating Reiterated at Shore Capital Group

Shore Capital Group reissued their house stock rating on shares of Norcros (LON:NXR) in a report released on Thursday,Digital Look reports.

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 440 target price on shares of Norcros in a research note on Thursday. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 470.

Norcros Stock Performance

Shares of LON NXR opened at GBX 317 on Thursday. The stock’s 50-day moving average is GBX 308.33 and its 200 day moving average is GBX 299.59. The stock has a market cap of £283.20 million, a price-to-earnings ratio of 1,056.67 and a beta of 1.05. Norcros has a 1-year low of GBX 262 and a 1-year high of GBX 374. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 65.07.

Insider Activity at Norcros

In related news, insider Thomas Willcocks sold 47,618 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of GBX 314, for a total transaction of £149,520.52. Corporate insiders own 35.31% of the company’s stock.

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.