Shore Capital Group Reiterates House Stock Rating for Norcros (LON:NXR)

Norcros (LON:NXR)‘s stock had its “house stock” rating reiterated by Shore Capital Group in a report issued on Tuesday,London Stock Exchange reports. They currently have a GBX 630 price objective on the stock. Shore Capital Group’s target price would indicate a potential upside of 117.32% from the stock’s previous close.

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 440 price target on shares of Norcros in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Norcros presently has a consensus rating of “Buy” and an average target price of GBX 470.

Norcros Stock Performance

Shares of NXR stock opened at GBX 289.90 on Tuesday. The company has a debt-to-equity ratio of 65.07, a current ratio of 1.92 and a quick ratio of 0.91. Norcros has a 12 month low of GBX 252 and a 12 month high of GBX 374. The company’s fifty day moving average price is GBX 285.01 and its two-hundred day moving average price is GBX 309.18. The firm has a market capitalization of £260.58 million, a P/E ratio of 20.71 and a beta of 1.02.

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.