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

Norcros plc (LON:NXR) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 299.79 and traded as low as GBX 286.36. Norcros shares last traded at GBX 295, with a volume of 120,166 shares traded.

Wall Street Analyst Weigh In

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

Norcros Trading Up 0.7%

The firm has a market cap of £263.47 million, a price-to-earnings ratio of 983.33 and a beta of 1.05. 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 company has a 50-day moving average price of GBX 314.03 and a 200 day moving average price of GBX 299.79.

Insiders Place Their Bets

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