Norcros (LON:NXR) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Norcros plc (LON:NXR) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 302.56 and traded as low as GBX 295. Norcros shares last traded at GBX 296, with a volume of 55,801 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NXR. Shore Capital Group reiterated a “house stock” rating on shares of Norcros in a report on Wednesday, July 22nd. Berenberg Bank restated a “buy” rating and issued a GBX 440 price target on shares of Norcros in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 470.

Norcros Stock Performance

The stock’s 50 day moving average is GBX 317.37 and its two-hundred day moving average is GBX 302.18. The stock has a market capitalization of £267.05 million, a price-to-earnings ratio of 996.67 and a beta of 1.05. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 65.07.

Norcros (LON:NXR) last posted its quarterly earnings data on Wednesday, June 17th. The company reported GBX 36.30 earnings per share (EPS) for the quarter. Norcros had a return on equity of 0.15% and a net margin of 0.08%.The business had revenue of £393.40 million during the quarter. Analysts expect that Norcros plc will post 31.3118812 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Thomas Willcocks sold 47,618 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of GBX 314, for a total value 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.