Norcros (LON:NXR) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Shares of Norcros plc (LON:NXR) passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of GBX 308.28 and traded as low as GBX 294. Norcros shares last traded at GBX 294, with a volume of 164,353 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NXR shares. Berenberg Bank reiterated a “buy” rating and set a GBX 440 price objective on shares of Norcros in a research note on Thursday, October 15th. Shore Capital Group reissued a “house stock” rating on shares of Norcros in a research note on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of GBX 470.

Norcros Trading Down 4.9%

The firm has a market cap of £262.65 million, a price-to-earnings ratio of 980.00 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. The business has a 50 day moving average price of GBX 302.46 and a 200-day moving average price of GBX 308.28.

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.