Norcros (LON:NXR) Sets New 1-Year High – Here’s What Happened

Shares of Norcros plc (LON:NXR) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 322 and last traded at GBX 320, with a volume of 73956 shares changing hands. The stock had previously closed at GBX 298.

Analyst Ratings Changes

Several research firms have recently issued reports on NXR. Peel Hunt reiterated a “buy” rating and issued a GBX 340 price objective on shares of Norcros in a research report on Thursday, November 20th. Berenberg Bank lifted their price target on shares of Norcros from GBX 350 to GBX 410 and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, Shore Capital reiterated a “buy” rating on shares of Norcros in a research note on Thursday, November 20th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of GBX 460.

Norcros Price Performance

The company has a market capitalization of £287.01 million, a P/E ratio of 22.86 and a beta of 1.39. The stock’s fifty day simple moving average is GBX 297.87 and its 200-day simple moving average is GBX 283.36. The company has a debt-to-equity ratio of 40.60, a current ratio of 2.00 and a quick ratio of 0.91.

Norcros (LON:NXR) last posted its quarterly earnings results on Thursday, November 20th. The company reported GBX 16.30 EPS for the quarter. Norcros had a return on equity of 12.35% and a net margin of 6.83%. On average, equities analysts forecast that Norcros plc will post 31.3118812 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Steve Good purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were acquired at an average cost of GBX 304 per share, with a total value of £60,800. 35.37% of the stock is currently owned by corporate insiders.

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.