Norcros (LON:NXR) Earns “Buy” Rating from Berenberg Bank

Norcros (LON:NXR)‘s stock had its “buy” rating reaffirmed by equities researchers at Berenberg Bank in a research report issued to clients and investors on Thursday, Digital Look reports. They presently have a GBX 440 price target on the stock. Berenberg Bank’s target price suggests a potential upside of 42.86% from the company’s previous close.

Separately, Shore Capital Group reaffirmed a “house stock” rating on shares of Norcros in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of GBX 470.

Norcros Price Performance

NXR traded up GBX 20 during trading on Thursday, reaching GBX 308. 1,340,988 shares of the company were exchanged, compared to its average volume of 162,896. The company’s 50-day moving average is GBX 308.67 and its two-hundred day moving average is GBX 299.46. The company has a market cap of £275.16 million, a price-to-earnings ratio of 1,026.67 and a beta of 1.05. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 65.07. Norcros has a 12-month low of GBX 262 and a 12-month high of GBX 374.

Insider Buying and Selling at Norcros

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