Norcros’ (NXR) “Buy” Rating Reaffirmed at Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Norcros (LON:NXR) in a research report report published on Thursday, Marketbeat Ratings reports. They currently have a GBX 350 ($4.54) target price on the stock.

Norcros Price Performance

Shares of LON:NXR opened at GBX 221 ($2.87) on Thursday. 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 firm’s 50 day moving average is GBX 221.43 and its two-hundred day moving average is GBX 241.41. The firm has a market capitalization of £197.63 million, a P/E ratio of 7.34 and a beta of 1.39. Norcros has a 52 week low of GBX 167.50 ($2.17) and a 52 week high of GBX 283 ($3.67).

Insider Buying and Selling at Norcros

In related news, insider Stefan Allanson bought 10,158 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average price of GBX 235 ($3.05) per share, for a total transaction of £23,871.30 ($30,985.59). 10.99% 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.