Norcros (LON:NXR) Earns “Buy” Rating from Shore Capital

Shore Capital reaffirmed their buy rating on shares of Norcros (LON:NXR) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports.

Several other equities analysts have also issued reports on the company. Numis Securities reaffirmed a buy rating and issued a GBX 315 ($4.07) price target on shares of Norcros in a research report on Thursday, April 11th. Berenberg Bank restated a buy rating and issued a GBX 325 ($4.20) price objective on shares of Norcros in a report on Thursday, April 11th.

Norcros Price Performance

NXR stock opened at GBX 240 ($3.10) on Wednesday. The firm has a 50-day moving average of GBX 225.01 and a 200 day moving average of GBX 200.65. The company has a debt-to-equity ratio of 47.99, a current ratio of 2.10 and a quick ratio of 0.91. The company has a market cap of £215.04 million, a P/E ratio of 1,500.00 and a beta of 1.42. Norcros has a 1 year low of GBX 134 ($1.73) and a 1 year high of GBX 248.80 ($3.22).

Norcros Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, August 2nd. Shareholders of record on Thursday, June 27th will be paid a dividend of GBX 6.80 ($0.09) per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a yield of 3.29%. This is a boost from Norcros’s previous dividend of $3.40. Norcros’s dividend payout ratio is currently 6,250.00%.

Insider Transactions at Norcros

In related news, insider James Eyre sold 20,992 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of GBX 245 ($3.17), for a total transaction of £51,430.40 ($66,516.30). In other Norcros news, insider James Eyre sold 20,992 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of GBX 245 ($3.17), for a total transaction of £51,430.40 ($66,516.30). Also, insider Stefan Allanson purchased 11,305 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was purchased at an average price of GBX 210 ($2.72) per share, for a total transaction of £23,740.50 ($30,704.22). Company insiders own 10.60% of the company’s stock.

About Norcros

Norcros plc, together with its subsidiaries, develops, manufactures, and markets bathroom and kitchen products in the United Kingdom and South Africa. The company manufactures and distributes electric and mixer showers, and accessories under the Triton brand; shower enclosures and trays to the residential, commercial, and hospitality sectors under the Merlyn brand; taps, mixer showers, bathroom accessories, and valves under the Vado brand; and accessories and furniture for the bathroom, such as toilet seats, wall-mounted cupboards, vanity units, shower rods, rails, and curtains to retail and trade customers under the Croydex brand.