Norcros (LON:NXR) Shares Cross Above 200-Day Moving Average – Here’s Why

Norcros plc (LON:NXR)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 298.45 and traded as high as GBX 365. Norcros shares last traded at GBX 354, with a volume of 24,083 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NXR shares. Shore Capital Group reiterated a “buy” rating on shares of Norcros in a report on Thursday, November 20th. Peel Hunt reiterated a “buy” rating and set a GBX 340 price objective on shares of Norcros in a research note on Thursday, November 20th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of GBX 460.

Norcros Trading Up 2.5%

The firm has a fifty day moving average of GBX 329.14 and a 200 day moving average of GBX 298.45. The firm has a market capitalization of £325.58 million, a PE ratio of 25.93 and a beta of 1.39. The company has a debt-to-equity ratio of 40.60, a quick ratio of 0.91 and a current ratio of 2.00.

Norcros (LON:NXR) last issued its quarterly earnings data 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 expect that Norcros plc will post 31.3118812 EPS for the current year.

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.