Norcros (LON:NXR) Stock Passes Above 200-Day Moving Average – Should You Sell?

Norcros plc (LON:NXR) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 309.04 and traded as high as GBX 318. Norcros shares last traded at GBX 317, with a volume of 17,379 shares.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NXR. Berenberg Bank reissued a “buy” rating and issued a GBX 440 price objective on shares of Norcros in a report on Wednesday. Shore Capital Group restated a “house stock” rating on shares of Norcros in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of GBX 470.

Norcros Trading Up 0.1%

The firm has a market cap of £280.57 million, a price-to-earnings ratio of 1,048.13 and a beta of 1.04. The company’s 50-day moving average price is GBX 293.72 and its 200-day moving average price is GBX 308.89. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 65.07.

Norcros (LON:NXR) last released its quarterly earnings results on Wednesday, June 17th. The company reported GBX 36.30 earnings per share for the quarter. The firm 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%. Equities analysts expect that Norcros plc will post 31.3118812 EPS for the current fiscal 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.