Norcros (LON:NXR) Reaches New 52-Week High – What’s Next?

Norcros plc (LON:NXR) hit a new 52-week high on Monday . The company traded as high as GBX 315.40 and last traded at GBX 312, with a volume of 73219 shares trading hands. The stock had previously closed at GBX 306.

Analysts Set New Price Targets

Several research firms recently issued reports on NXR. Berenberg Bank increased their target price on Norcros from GBX 350 to GBX 410 and gave the stock a “buy” rating in a research note on Monday, October 13th. Peel Hunt reiterated a “buy” rating and set a GBX 340 price target on shares of Norcros in a research note on Thursday. Finally, Shore Capital reissued a “buy” rating on shares of Norcros in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Norcros presently has an average rating of “Buy” and an average target price of GBX 460.

Norcros Stock Up 2.0%

The firm’s fifty day simple moving average is GBX 283.13 and its 200 day simple moving average is GBX 276.75. The company has a current ratio of 2.00, a quick ratio of 0.91 and a debt-to-equity ratio of 40.60. The company has a market cap of £279.84 million, a price-to-earnings ratio of 80.00 and a beta of 1.39.

Norcros (LON:NXR) last announced its quarterly earnings data on Thursday, November 20th. The company reported GBX 16.30 earnings per share for the quarter. Norcros had a net margin of 6.83% and a return on equity of 12.35%. Sell-side analysts predict that Norcros plc will post 31.3118812 earnings per share for the current year.

Insiders Place Their Bets

In other Norcros news, insider Steve Good purchased 20,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were bought at an average cost of GBX 304 per share, for a total transaction of £60,800. 35.35% 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.