Norcros (LON:NXR) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Norcros plc (LON:NXR) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 265.54 ($3.55) and traded as high as GBX 295 ($3.94). Norcros shares last traded at GBX 285 ($3.81), with a volume of 411,869 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NXR shares. Berenberg Bank increased their price objective on Norcros from GBX 350 to GBX 410 and gave the stock a “buy” rating in a report on Monday, October 13th. Shore Capital reaffirmed a “buy” rating and set a GBX 630 price objective on shares of Norcros in a research note on Thursday, October 16th. Finally, Peel Hunt reiterated a “buy” rating and issued a GBX 340 target price on shares of Norcros in a report on Thursday, October 16th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 438.75.

Norcros Price Performance

The company has a market capitalization of £261.00 million, a PE ratio of 74.62 and a beta of 1.39. The stock has a 50 day moving average price of GBX 271.25 and a two-hundred day moving average price of GBX 265.54. The company has a debt-to-equity ratio of 40.60, a quick ratio of 0.91 and a current ratio of 2.00.

About Norcros

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.