Norcros’ (NXR) “Buy” Rating Reaffirmed at Berenberg Bank

Norcros (LON:NXR)‘s stock had its “buy” rating reissued by investment analysts at Berenberg Bank in a research note issued on Thursday, Digital Look reports. They presently have a GBX 440 price objective on the stock. Berenberg Bank’s price objective points to a potential upside of 44.74% from the company’s previous close.

Separately, Shore Capital Group reissued a “house stock” rating on shares of Norcros in a research note on Wednesday, July 22nd. Two 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

LON NXR traded up GBX 16 during trading on Thursday, reaching GBX 304. The company’s stock had a trading volume of 716,919 shares, compared to its average volume of 159,760. The firm has a fifty day moving average of GBX 309.41 and a 200 day moving average of GBX 299.26. The stock has a market capitalization of £271.59 million, a PE ratio of 1,013.33 and a beta of 1.05. The company has a debt-to-equity ratio of 65.07, a current ratio of 1.92 and a quick ratio of 0.91. Norcros has a one year low of GBX 262 and a one year high of GBX 374.

Insider Buying and Selling

In related news, insider Thomas Willcocks sold 47,618 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of GBX 314, for a total value of £149,520.52. Company insiders own 35.31% of the company’s stock.

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.