Norcros (LON:NXR) Stock Crosses Above 200-Day Moving Average – Here’s Why

Norcros plc (LON:NXR) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 241.26 ($3.25) and traded as high as GBX 277 ($3.73). Norcros shares last traded at GBX 270 ($3.64), with a volume of 2,348,424 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on NXR shares. Berenberg Bank reiterated a “buy” rating and issued a GBX 350 ($4.71) target price on shares of Norcros in a research note on Thursday, April 10th. Shore Capital restated a “buy” rating on shares of Norcros in a research report on Thursday, April 10th.

Norcros Stock Performance

The company’s 50-day moving average price is GBX 254.14 and its two-hundred day moving average price is GBX 241.26. 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 stock has a market cap of £240.56 million, a PE ratio of 8.93 and a beta of 1.39.

Norcros (LON:NXR) last posted its quarterly earnings data on Thursday, June 12th. The company reported GBX 32.60 ($0.44) earnings per share for the quarter. Norcros had a net margin of 6.83% and a return on equity of 12.35%. On average, equities research analysts forecast that Norcros plc will post 31.3118812 EPS for the current year.

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.