Norcros’ (NXR) “House Stock” Rating Reiterated at Shore Capital Group

Norcros (LON:NXR)‘s stock had its “house stock” rating reaffirmed by research analysts at Shore Capital Group in a research note issued to investors on Thursday, Digital Look reports.

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 440 price target on shares of Norcros in a report on Thursday. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of GBX 470.

Norcros Stock Performance

LON NXR opened at GBX 300 on Thursday. The firm has a market capitalization of £268.01 million, a P/E ratio of 1,000.00 and a beta of 1.05. Norcros has a 1-year low of GBX 262 and a 1-year high of GBX 374. The company has a debt-to-equity ratio of 65.07, a current ratio of 1.92 and a quick ratio of 0.91. The business’s 50-day simple moving average is GBX 309.41 and its 200-day simple moving average is GBX 299.26.

Insiders Place Their Bets

In other news, insider Thomas Willcocks sold 47,618 shares of Norcros stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of GBX 314, for a total transaction 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.