Norcros (LON:NXR) Sets New 12-Month High – Still a Buy?

Norcros plc (LON:NXR) reached a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 350 and last traded at GBX 350, with a volume of 24353 shares changing hands. The stock had previously closed at GBX 340.

Wall Street Analyst Weigh In

NXR has been the subject of a number of recent research reports. Peel Hunt reiterated a “buy” rating and set a GBX 340 price objective on shares of Norcros in a research note on Thursday, November 20th. Berenberg Bank raised their target price on Norcros from GBX 350 to GBX 410 and gave the stock a “buy” rating in a report on Monday, October 13th. Finally, Shore Capital reiterated a “buy” rating on shares of Norcros in a research report on Thursday, November 20th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of GBX 460.

Norcros Price Performance

The company has a current ratio of 2.00, a quick ratio of 0.91 and a debt-to-equity ratio of 40.60. The stock has a 50-day moving average price of GBX 310.77 and a 200 day moving average price of GBX 291.01. The stock has a market capitalization of £313.92 million, a price-to-earnings ratio of 25.00 and a beta of 1.39.

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

Insider Activity

In related news, insider Steve Good purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were purchased at an average price of GBX 304 per share, with a total value of £60,800. 35.37% of the stock is owned by company 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.