Norcros (LON:NXR) Given “Buy” Rating at Berenberg Bank

Norcros (LON:NXR)‘s stock had its “buy” rating reissued by equities research analysts at Berenberg Bank in a research note issued on Thursday, Digital Look reports. They currently have a GBX 440 price target on the stock. Berenberg Bank’s price objective would suggest a potential upside of 42.21% from the company’s current price.

Separately, Shore Capital Group reiterated a “house stock” rating on shares of Norcros in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of GBX 470.

Norcros Price Performance

Shares of Norcros stock opened at GBX 309.40 on Thursday. The stock has a market capitalization of £276.41 million, a price-to-earnings ratio of 1,031.33 and a beta of 1.05. The firm’s 50-day moving average price is GBX 308.67 and its two-hundred day moving average price is GBX 299.46. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 65.07. Norcros has a 1-year low of GBX 262 and a 1-year high of GBX 374.

Insider Buying and Selling at Norcros

In related news, insider Thomas Willcocks sold 47,618 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of GBX 314, for a total value of £149,520.52. 35.31% of the stock is currently owned by corporate insiders.

About Norcros

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.