Shore Capital Reaffirms Buy Rating for Norcros (LON:NXR)

Norcros (LON:NXR)‘s stock had its “buy” rating reaffirmed by stock analysts at Shore Capital in a research report issued to clients and investors on Thursday, Marketbeat reports.

A number of other research firms have also recently issued reports on NXR. Peel Hunt reissued a “buy” rating and issued a GBX 340 price target on shares of Norcros in a research note on Thursday. Berenberg Bank increased their price objective on shares of Norcros from GBX 350 to GBX 410 and gave the company a “buy” rating in a report on Monday, October 13th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 460.

Norcros Stock Performance

NXR opened at GBX 306 on Thursday. The firm has a fifty day moving average price of GBX 282.09 and a 200 day moving average price of GBX 276.11. Norcros has a 1 year low of GBX 184.50 and a 1 year high of GBX 320. The stock has a market cap of £274.45 million, a P/E ratio of 78.46 and a beta of 1.39. The company has a debt-to-equity ratio of 40.60, a current ratio of 2.00 and a quick ratio of 0.91.

Norcros (LON:NXR) last posted its earnings results on Thursday, November 20th. The company reported GBX 16.30 earnings per share (EPS) for the quarter. Norcros had a net margin of 6.83% and a return on equity of 12.35%. Equities research analysts anticipate that Norcros will post 31.3118812 earnings per share for the current year.

Insider Activity at Norcros

In other Norcros news, insider Steve Good bought 20,000 shares of Norcros stock in a transaction dated Thursday, November 20th. The stock was acquired at an average cost of GBX 304 per share, for a total transaction of £60,800. 35.35% of the stock is owned by company insiders.

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.