Norcros’ (NXR) Buy Rating Reiterated at Shore Capital

Shore Capital reaffirmed their buy rating on shares of Norcros (LON:NXR) in a research report sent to investors on Thursday morning, Marketbeat reports.

Several other equities analysts also recently issued reports on the stock. Peel Hunt restated a “buy” rating and issued a GBX 340 price objective on shares of Norcros in a research note on Thursday. Berenberg Bank boosted their target price on Norcros from GBX 350 to GBX 410 and gave the company a “buy” rating in a report on Monday, October 13th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of GBX 460.

Norcros Stock Performance

Shares of NXR opened at GBX 306 on Thursday. The stock has a 50 day moving average price of GBX 282.09 and a 200 day moving average price of GBX 276.25. 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 has a market capitalization of £274.45 million, a price-to-earnings ratio of 78.46 and a beta of 1.39. Norcros has a 52-week low of GBX 184.50 and a 52-week high of GBX 320.

Norcros (LON:NXR) last released its quarterly earnings data on Thursday, November 20th. The company reported GBX 16.30 earnings per share for the quarter. Norcros had a net margin of 6.83% and a return on equity of 12.35%. Research analysts predict that Norcros will post 31.3118812 EPS for the current fiscal year.

Insider Buying and Selling at Norcros

In related news, insider Steve Good purchased 20,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were purchased at an average price of GBX 304 per share, with a total value of £60,800. Company 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.