Norcros (LON:NXR) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Norcros plc (LON:NXR) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 300.35 and traded as high as GBX 310.80. Norcros shares last traded at GBX 298, with a volume of 24,880 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NXR. Shore Capital Group restated a “house stock” rating on shares of Norcros in a research report on Thursday, October 15th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 440 price objective on shares of Norcros in a report on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of GBX 470.

Norcros Stock Up 2.7%

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 business has a 50-day simple moving average of GBX 306.40 and a 200-day simple moving average of GBX 300.39. The company has a market cap of £273.37 million, a PE ratio of 1,020.00 and a beta of 1.05.

Insider Activity

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