Norcros (LON:NXR) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Norcros plc (LON:NXR) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of GBX 299.23 and traded as low as GBX 290. Norcros shares last traded at GBX 291, with a volume of 39,866 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Berenberg Bank restated a “buy” rating and set a GBX 440 price target on shares of Norcros in a research report on Wednesday, July 22nd. Shore Capital Group reaffirmed a “house stock” rating on shares of Norcros in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Norcros has an average rating of “Buy” and an average price target of GBX 470.

Norcros Price Performance

The stock has a 50 day simple moving average of GBX 310.25 and a two-hundred day simple moving average of GBX 299.25. The company has a market cap of £257.29 million, a price-to-earnings ratio of 960.00 and a beta of 1.05. The company has a debt-to-equity ratio of 65.07, a current ratio of 1.92 and a quick ratio of 0.91.

Insider Activity

In other news, insider Thomas Willcocks sold 47,618 shares of Norcros stock in a transaction on Monday, July 27th. The stock was sold at an average price of GBX 314, for a total transaction of £149,520.52. 35.31% of the stock is owned by company insiders.

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.