Norcros (LON:NXR) Sets New 52-Week High – What’s Next?

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

Analyst Upgrades and Downgrades

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

Norcros Price Performance

The company has a debt-to-equity ratio of 40.60, a quick ratio of 0.91 and a current ratio of 2.00. The stock’s 50-day moving average is GBX 306.62 and its two-hundred day moving average is GBX 288.83. The stock has a market cap of £295.98 million, a PE ratio of 23.57 and a beta of 1.39.

Norcros (LON:NXR) last issued its quarterly earnings results 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%. On average, equities analysts predict that Norcros plc will post 31.3118812 earnings per share for the current year.

Insider Transactions at Norcros

In other Norcros news, insider Steve Good bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average price of GBX 304 per share, for a total transaction of £60,800. 35.37% of the stock is owned by company insiders.

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.