Norcros’ (NXR) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank reiterated their buy rating on shares of Norcros (LON:NXRFree Report) in a research report sent to investors on Thursday,Digital Look reports. They currently have a GBX 350 ($4.53) target price on the stock.

Several other analysts have also weighed in on NXR. Shore Capital reiterated a “buy” rating on shares of Norcros in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 375 ($4.85) price target on shares of Norcros in a research report on Friday, November 22nd.

Check Out Our Latest Stock Report on NXR

Norcros Stock Up 3.3 %

NXR stock opened at GBX 220 ($2.85) on Thursday. The company has a debt-to-equity ratio of 40.60, a current ratio of 2.00 and a quick ratio of 0.91. Norcros has a 1-year low of GBX 167.50 ($2.17) and a 1-year high of GBX 283 ($3.66). The firm has a fifty day moving average price of GBX 231.36 and a two-hundred day moving average price of GBX 243.35. The firm has a market cap of £196.74 million, a price-to-earnings ratio of 7.31 and a beta of 1.39.

Insider Transactions 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 ($3.04) per share, for a total transaction of £23,871.30 ($30,877.38). Insiders own 10.99% of the company’s stock.

Norcros Company Profile

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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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