Norcros (LON:NXR) Earns Buy Rating from Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Norcros (LON:NXRFree Report) in a report published on Thursday,Digital Look reports. The brokerage currently has a GBX 350 ($4.53) price target on the stock.

A number of other analysts have also commented on NXR. Shore Capital reaffirmed a “buy” rating on shares of Norcros in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 375 ($4.85) price objective on shares of Norcros in a research note on Friday, November 22nd.

Read Our Latest Stock Analysis on Norcros

Norcros Price Performance

Shares of LON NXR opened at GBX 220 ($2.85) on Thursday. Norcros has a twelve month low of GBX 167.50 ($2.17) and a twelve month high of GBX 283 ($3.66). 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 capitalization of £196.74 million, a price-to-earnings ratio of 7.31 and a beta of 1.39. The firm has a 50-day moving average of GBX 231.36 and a two-hundred day moving average of GBX 243.35.

Insider Buying and Selling at Norcros

In related news, insider Stefan Allanson purchased 10,158 shares of Norcros stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average cost of GBX 235 ($3.04) per share, with a total value of £23,871.30 ($30,877.38). Insiders own 10.99% of the company’s stock.

About Norcros

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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.

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