Norcros (LON:NXR) Sets New 12-Month High – Still a Buy?

Norcros plc (LON:NXR) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 350 and last traded at GBX 350, with a volume of 24353 shares trading hands. The stock had previously closed at GBX 340.

Analysts Set New Price Targets

NXR has been the topic of a number of recent analyst reports. Peel Hunt restated a “buy” rating and issued a GBX 340 price target on shares of Norcros in a report on Thursday, November 20th. Shore Capital reissued a “buy” rating on shares of Norcros in a research report on Thursday, November 20th. Finally, Berenberg Bank raised their target price on shares of Norcros from GBX 350 to GBX 410 and gave the company a “buy” rating in a research note on Monday, October 13th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 460.

Norcros Trading Up 2.9%

The company has a current ratio of 2.00, a quick ratio of 0.91 and a debt-to-equity ratio of 40.60. The stock has a 50-day simple moving average of GBX 310.77 and a 200 day simple moving average of GBX 291.01. The company has a market cap of £313.92 million, a price-to-earnings ratio of 25.00 and a beta of 1.39.

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

Insider Transactions at Norcros

In other Norcros news, insider Steve Good acquired 20,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was acquired at an average cost of GBX 304 per share, for a total transaction of £60,800. Corporate insiders own 35.37% 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.