Norcros’ (NXR) Buy Rating Reaffirmed at Shore Capital

Shore Capital reissued their buy rating on shares of Norcros (LON:NXR) in a report issued on Thursday, MarketBeat.com reports.

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 350 ($4.58) price target on shares of Norcros in a research report on Thursday.

Norcros Price Performance

NXR opened at GBX 217.73 ($2.85) on Thursday. The stock has a fifty day moving average price of GBX 221.14 and a 200 day moving average price of GBX 241.25. The company has a current ratio of 2.00, a quick ratio of 0.91 and a debt-to-equity ratio of 40.60. Norcros has a 1 year low of GBX 167.50 ($2.19) and a 1 year high of GBX 283 ($3.70). The stock has a market cap of £194.71 million, a price-to-earnings ratio of 7.23 and a beta of 1.39.

Insider Activity

In other Norcros news, insider Stefan Allanson acquired 10,158 shares of Norcros stock in a transaction dated Wednesday, February 5th. The stock was bought at an average cost of GBX 235 ($3.08) per share, with a total value of £23,871.30 ($31,245.16). 10.99% of the stock is currently owned by company insiders.

Norcros Company Profile

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.