Norcros (LON:NXR) Stock Crosses Below 200 Day Moving Average – Here’s Why

Norcros plc (LON:NXR) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 311.17 and traded as low as GBX 277.44. Norcros shares last traded at GBX 283, with a volume of 253,356 shares.

Wall Street Analyst Weigh In

Separately, Shore Capital Group reaffirmed a “house stock” rating on shares of Norcros in a report on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of GBX 460.

Norcros Trading Up 0.7%

The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 44.20. The business’s fifty day simple moving average is GBX 305.51 and its two-hundred day simple moving average is GBX 311.17. The stock has a market capitalization of £254.30 million, a P/E ratio of 20.21 and a beta of 1.07.

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.