Norcros (LON:NXR) Stock Price Breaks Below 200-Day Moving Average – What’s Next?

Norcros plc (LON:NXR) shares passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of GBX 300.94 and traded as low as GBX 296. Norcros shares last traded at GBX 296, with a volume of 146,620 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Berenberg Bank restated a “buy” rating and issued a GBX 440 price target on shares of Norcros in a research report on Wednesday, July 22nd. Shore Capital Group reiterated a “house stock” rating on shares of Norcros in a research report on Wednesday, July 22nd. 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 Price Performance

The company has a debt-to-equity ratio of 65.07, a quick ratio of 0.91 and a current ratio of 1.92. The company has a 50-day moving average of GBX 315.88 and a 200-day moving average of GBX 300.88. The stock has a market capitalization of £261.24 million, a price-to-earnings ratio of 975.00 and a beta of 1.05.

Insider Buying and Selling at Norcros

In other news, insider Thomas Willcocks sold 47,618 shares of the business’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of GBX 314, for a total value of £149,520.52. 35.31% of the stock is currently owned by company 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.