Norcros (LON:NXR) Earns Buy Rating from Peel Hunt

Norcros (LON:NXR)‘s stock had its “buy” rating reaffirmed by investment analysts at Peel Hunt in a note issued to investors on Thursday, MarketBeat.com reports. They currently have a GBX 340 price target on the stock. Peel Hunt’s price target would indicate a potential upside of 17.24% from the company’s previous close.

A number of other equities analysts have also commented on NXR. Berenberg Bank boosted their price target on shares of Norcros from GBX 350 to GBX 410 and gave the company a “buy” rating in a research report on Monday, October 13th. Shore Capital restated a “buy” rating and issued a GBX 630 price target on shares of Norcros in a research report on Thursday. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of GBX 438.75.

Norcros Price Performance

LON:NXR opened at GBX 290 on Thursday. The firm has a market cap of £260.10 million, a PE ratio of 7,435.90 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 quick ratio of 0.91, a current ratio of 2.00 and a debt-to-equity ratio of 40.60. The company’s 50-day moving average price is GBX 271.05 and its two-hundred day moving average price is GBX 264.

Insider Activity

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

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.