Norcros’ (NXR) “Buy” Rating Reaffirmed at Shore Capital

Shore Capital reiterated their buy rating on shares of Norcros (LON:NXR) in a research report report published on Thursday morning, MarketBeat Ratings reports.

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 350 ($4.54) target price on shares of Norcros in a research report on Thursday.

Norcros Stock Performance

NXR opened at GBX 221 ($2.87) on Thursday. The company has a debt-to-equity ratio of 40.60, a quick ratio of 0.91 and a current ratio of 2.00. The company has a market cap of £197.63 million, a PE ratio of 7.34 and a beta of 1.39. The stock has a 50-day moving average of GBX 221.43 and a 200-day moving average of GBX 241.41. Norcros has a 52-week low of GBX 167.50 ($2.17) and a 52-week high of GBX 283 ($3.67).

Insider Buying and Selling at Norcros

In other Norcros news, insider Stefan Allanson purchased 10,158 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was bought at an average cost of GBX 235 ($3.05) per share, for a total transaction of £23,871.30 ($30,985.59). Corporate insiders own 10.99% of the company’s stock.

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.