Shore Capital Reiterates “Buy” Rating for Norcros (LON:NXR)

Norcros (LON:NXR)‘s stock had its “buy” rating reissued by equities research analysts at Shore Capital in a research note issued to investors on Thursday, MarketBeat.com reports.

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 350 ($4.58) price objective on shares of Norcros in a research note on Thursday.

Norcros Trading Up 0.8 %

NXR opened at GBX 217.73 ($2.85) on Thursday. Norcros has a twelve month low of GBX 167.50 ($2.19) and a twelve month high of GBX 283 ($3.70). The company has a fifty day moving average of GBX 221.14 and a 200-day moving average of GBX 241.25. The stock has a market cap of £194.71 million, a PE ratio of 7.23 and a beta of 1.39. The company has a quick ratio of 0.91, a current ratio of 2.00 and a debt-to-equity ratio of 40.60.

Insiders Place Their Bets

In other news, insider Stefan Allanson purchased 10,158 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were acquired at an average price of GBX 235 ($3.08) per share, for a total transaction of £23,871.30 ($31,245.16). Corporate insiders own 10.99% 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.