Norcros (LON:NXR) Hits New 1-Year High – Time to Buy?

Shares of Norcros plc (LON:NXR) hit a new 52-week high on Monday . The stock traded as high as GBX 340 and last traded at GBX 330, with a volume of 173555 shares trading hands. The stock had previously closed at GBX 337.

Analyst Ratings Changes

Several brokerages have issued reports on NXR. Peel Hunt reissued a “buy” rating and issued a GBX 340 price objective on shares of Norcros in a research note on Thursday, November 20th. Shore Capital reiterated a “buy” rating on shares of Norcros in a research note on Thursday, November 20th. Finally, Berenberg Bank increased their price target on shares of Norcros from GBX 350 to GBX 410 and gave the stock a “buy” rating in a report on Monday, October 13th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of GBX 460.

Norcros Stock Performance

The company has a quick ratio of 0.91, a current ratio of 2.00 and a debt-to-equity ratio of 40.60. The company has a market capitalization of £295.98 million, a price-to-earnings ratio of 23.57 and a beta of 1.39. The stock has a fifty day moving average price of GBX 306.62 and a two-hundred day moving average price of GBX 288.83.

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

Insider Transactions at Norcros

In other news, insider Steve Good bought 20,000 shares of the stock in a transaction on Thursday, November 20th. The stock was purchased at an average cost of GBX 304 per share, with a total value of £60,800. Company insiders own 35.37% of the company’s stock.

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.