Norcros’ (NXR) “Buy” Rating Reiterated at Berenberg Bank

Norcros (LON:NXR)‘s stock had its “buy” rating reiterated by analysts at Berenberg Bank in a report released on Wednesday,Digital Look reports. They presently have a GBX 440 price target on the stock. Berenberg Bank’s target price points to a potential upside of 39.68% from the company’s current price.

Separately, Shore Capital Group reaffirmed a “house stock” rating and set a GBX 630 price objective on shares of Norcros in a report on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Norcros presently has an average rating of “Buy” and a consensus price target of GBX 470.

Norcros Price Performance

Shares of NXR stock opened at GBX 315 on Wednesday. Norcros has a 1 year low of GBX 252 and a 1 year high of GBX 374. The firm’s 50 day moving average is GBX 293.30 and its 200-day moving average is GBX 309.04. The firm has a market capitalization of £281.07 million, a price-to-earnings ratio of 1,050.00 and a beta of 1.04. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 65.07.

Norcros (LON:NXR) last issued its quarterly earnings results on Wednesday, June 17th. The company reported GBX 36.30 earnings per share for the quarter. The business had revenue of £393.40 million during the quarter. Norcros had a net margin of 0.08% and a return on equity of 0.15%. Sell-side analysts forecast that Norcros will post 31.3118812 EPS for the current fiscal year.

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.