Norcros (LON:NXR) Shares Cross Below 200-Day Moving Average – Time to Sell?

Norcros plc (LON:NXR) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 310.43 and traded as low as GBX 285. Norcros shares last traded at GBX 289, with a volume of 34,699 shares trading hands.

Analysts Set New Price Targets

Separately, Shore Capital Group reiterated a “house stock” rating and set a GBX 630 price target on shares of Norcros in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of GBX 460.

Norcros Price Performance

The business has a 50-day moving average price of GBX 286.42 and a two-hundred day moving average price of GBX 310.43. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 44.20. The company has a market capitalization of £260.67 million, a price-to-earnings ratio of 20.71 and a beta of 1.02.

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.