Norcros (LON:NXR) Given “Buy” Rating at Berenberg Bank

Norcros (LON:NXR)‘s stock had its “buy” rating reiterated by Berenberg Bank in a research report issued on Monday,London Stock Exchange reports. They presently have a GBX 350 price target on the stock. Berenberg Bank’s price target indicates a potential upside of 35.48% from the stock’s previous close.

Separately, Shore Capital reaffirmed a “buy” rating on shares of Norcros in a report on Wednesday, July 23rd. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of GBX 362.50.

Norcros Stock Performance

LON NXR traded down GBX 5.65 during trading on Monday, hitting GBX 258.35. 59,273 shares of the company’s stock traded hands, compared to its average volume of 179,744. The stock has a market capitalization of £231.72 million, a price-to-earnings ratio of 6,624.36 and a beta of 1.39. Norcros has a 12-month low of GBX 184.50 and a 12-month high of GBX 304. The company has a debt-to-equity ratio of 40.60, a quick ratio of 0.91 and a current ratio of 2.00. The business has a 50 day moving average of GBX 280.95 and a 200-day moving average of GBX 255.67.

Norcros (LON:NXR) last released its quarterly earnings data on Thursday, June 12th. The company reported GBX 32.60 EPS for the quarter. Norcros had a net margin of 6.83% and a return on equity of 12.35%. As a group, equities research analysts anticipate that Norcros will post 31.3118812 earnings per share for the current fiscal year.

Insider Activity

In other news, insider James Eyre sold 18,751 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of GBX 300, for a total value of £56,253. Insiders own 35.35% of the company’s stock.

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.