Norcros (LON:NXR) Sets New 12-Month High – What’s Next?

Norcros plc (LON:NXR)’s share price hit a new 52-week high during trading on Monday . The company traded as high as GBX 322 and last traded at GBX 320, with a volume of 73956 shares. The stock had previously closed at GBX 298.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NXR shares. Berenberg Bank boosted their target price on Norcros from GBX 350 to GBX 410 and gave the stock a “buy” rating in a research report on Monday, October 13th. Peel Hunt reissued a “buy” rating and set a GBX 340 price objective on shares of Norcros in a research note on Thursday, November 20th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Norcros in a research note on Thursday, November 20th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of GBX 460.

Norcros Stock Up 7.4%

The stock has a market cap of £287.01 million, a P/E ratio of 22.86 and a beta of 1.39. The firm has a 50 day simple moving average of GBX 297.87 and a 200-day simple moving average of GBX 283.36. The company has a quick ratio of 0.91, a current ratio of 2.00 and a debt-to-equity ratio of 40.60.

Norcros (LON:NXR) last posted its earnings results on Thursday, November 20th. The company reported GBX 16.30 EPS for the quarter. Norcros had a return on equity of 12.35% and a net margin of 6.83%. On average, equities research analysts forecast that Norcros plc will post 31.3118812 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Norcros news, insider Steve Good bought 20,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were purchased at an average price of GBX 304 per share, for a total transaction of £60,800. 35.37% of the stock is owned by insiders.

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.