Norcros’ (NXR) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank reiterated their buy rating on shares of Norcros (LON:NXR) in a report published on Thursday morning,Digital Look reports. They currently have a GBX 440 price target on the stock.

Separately, Shore Capital Group reissued a “house stock” rating on shares of Norcros in a report on Wednesday, July 22nd. Two investment 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 target price of GBX 470.

Norcros Stock Performance

Shares of NXR stock opened at GBX 317 on Thursday. The stock has a market capitalization of £283.20 million, a P/E ratio of 1,056.67 and a beta of 1.05. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 65.07. The firm’s 50 day moving average is GBX 308.33 and its 200 day moving average is GBX 299.59. Norcros has a 12 month low of GBX 262 and a 12 month high of GBX 374.

Insider Buying and Selling

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