Berenberg Bank Reaffirms “Buy” Rating for Norcros (LON:NXR)

Norcros (LON:NXR)‘s stock had its “buy” rating reissued by Berenberg Bank in a research report issued on Thursday, October 15th, Digital Look reports. They presently have a GBX 440 target price on the stock. Berenberg Bank‘s price target would suggest a potential upside of 47.65% from the company’s previous close.

Separately, Shore Capital Group reaffirmed a “house stock” rating on shares of Norcros in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating. According to MarketBeat.com, Norcros presently has a consensus rating of “Buy” and an average price target of GBX 470.

Norcros Stock Performance

Shares of NXR stock traded down GBX 7 on Thursday, hitting GBX 298. The company’s stock had a trading volume of 24,880 shares, compared to its average volume of 157,319. Norcros has a fifty-two week low of GBX 262 and a fifty-two week high of GBX 374. The company has a market capitalization of £266.23 million, a PE ratio of 993.33 and a beta of 1.05. The stock’s 50 day moving average is GBX 307.33 and its 200-day moving average is GBX 300.28. The company has a debt-to-equity ratio of 65.07, a quick ratio of 0.91 and a current ratio of 1.92.

Insider Buying and Selling

In other Norcros news, insider Thomas Willcocks sold 47,618 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of GBX 314, for a total transaction of £149,520.52. 35.31% of the stock is currently owned by corporate 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.