Norcros (LON:NXR) Stock Breaks Below 200 Day Moving Average – Here’s What Happened

Norcros plc (LON:NXR)’s stock price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of GBX 308.28 and traded as low as GBX 294. Norcros shares last traded at GBX 294, with a volume of 164,353 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on NXR shares. Shore Capital Group restated a “house stock” rating on shares of Norcros in a research note on Thursday, October 15th. Berenberg Bank restated a “buy” rating and set a GBX 440 target price on shares of Norcros in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of GBX 470.

Norcros Price Performance

The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 65.07. The stock has a market cap of £262.65 million, a PE ratio of 980.00 and a beta of 1.05. The business has a fifty day simple moving average of GBX 302.46 and a two-hundred day simple moving average of GBX 308.28.

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.