Norcros (LON:NXR) Receives “Buy” Rating from Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Norcros (LON:NXR) in a research note published on Wednesday morning,Digital Look reports. Berenberg Bank currently has a GBX 440 price objective on the stock.

Separately, Shore Capital Group restated a “house stock” rating and issued a GBX 630 target price on shares of Norcros in a research report on Tuesday, June 16th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Norcros presently has a consensus rating of “Buy” and an average price target of GBX 470.

Norcros Price Performance

Shares of Norcros stock opened at GBX 314 on Wednesday. The firm has a market cap of £280.18 million, a PE ratio of 1,046.67 and a beta of 1.04. Norcros has a twelve month low of GBX 252 and a twelve month high of GBX 374. The business has a 50-day moving average price of GBX 293.72 and a 200 day moving average price of GBX 308.89. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 65.07.

Norcros (LON:NXR) last announced its earnings results on Wednesday, June 17th. The company reported GBX 36.30 earnings per share for the quarter. The business had revenue of £393.40 million during the quarter. Norcros had a return on equity of 0.15% and a net margin of 0.08%. Sell-side analysts predict that Norcros will post 31.3118812 earnings per share for the current fiscal 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.