Norcros (LON:NXR) Given Buy Rating at Shore Capital

Shore Capital restated their buy rating on shares of Norcros (LON:NXR) in a research report released on Thursday, Marketbeat Ratings reports.

Other equities research analysts have also issued reports about the stock. Berenberg Bank increased their target price on shares of Norcros from GBX 350 to GBX 410 and gave the stock a “buy” rating in a report on Monday, October 13th. Peel Hunt reissued a “buy” rating and issued a GBX 340 price objective on shares of Norcros in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 438.75.

Norcros Trading Up 1.3%

Shares of Norcros stock opened at GBX 308 on Thursday. Norcros has a 1-year low of GBX 184.50 and a 1-year high of GBX 320. The company’s fifty day simple moving average is GBX 281.19 and its 200-day simple moving average is GBX 275.72. The company has a debt-to-equity ratio of 40.60, a current ratio of 2.00 and a quick ratio of 0.91. The stock has a market capitalization of £276.25 million, a PE ratio of 78.97 and a beta of 1.39.

Norcros (LON:NXR) last announced its 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%. As a group, equities analysts anticipate that Norcros will post 31.3118812 earnings per share for the current year.

Insider Activity

In related news, insider Steve Good bought 20,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were purchased at an average price of GBX 304 per share, with a total value of £60,800. 35.35% of the stock is currently owned by 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.