Norcros (LON:NXR) Stock Keeps “Buy” Rating at Berenberg Bank

Norcros (LON:NXR)‘s stock had its “buy” rating reissued by research analysts at Berenberg Bank in a report released on Thursday, Digital Look reports. They presently have a GBX 440 price target on the stock. Berenberg Bank’s target price would suggest a potential upside of 44.74% from the stock’s previous close.

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

Norcros Trading Up 5.6%

Shares of Norcros stock opened at GBX 304 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 65.07. The firm has a market cap of £271.59 million, a price-to-earnings ratio of 1,013.33 and a beta of 1.05. Norcros has a 52-week low of GBX 262 and a 52-week high of GBX 374. The company’s 50-day simple moving average is GBX 309.41 and its 200-day simple moving average is GBX 299.26.

Insider Buying and Selling

In other news, insider Thomas Willcocks sold 47,618 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of GBX 314, for a total value of £149,520.52. Insiders own 35.31% of the company’s stock.

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.