Norcros (LON:NXR) Sets New 1-Year High – Here’s Why

Norcros plc (LON:NXR)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 340 and last traded at GBX 330, with a volume of 173555 shares. The stock had previously closed at GBX 337.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NXR. Peel Hunt reaffirmed a “buy” rating and set a GBX 340 price target on shares of Norcros in a research note on Thursday, November 20th. Shore Capital reissued a “buy” rating on shares of Norcros in a report on Thursday, November 20th. Finally, Berenberg Bank increased their target price on shares of Norcros from GBX 350 to GBX 410 and gave the company a “buy” rating in a report on Monday, October 13th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Norcros has a consensus rating of “Buy” and a consensus target price of GBX 460.

Norcros Trading Up 2.1%

The company has a debt-to-equity ratio of 40.60, a current ratio of 2.00 and a quick ratio of 0.91. The company has a market cap of £302.26 million, a price-to-earnings ratio of 24.07 and a beta of 1.39. The business’s 50-day simple moving average is GBX 308.04 and its 200-day simple moving average is GBX 289.63.

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

Insider Buying and Selling

In related news, insider Steve Good purchased 20,000 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was bought at an average price of GBX 304 per share, with a total value of £60,800. Company insiders own 35.37% of the company’s stock.

Norcros Company Profile

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.