Norcros (LON:NXR) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Norcros plc (LON:NXR)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 306.48 and traded as high as GBX 323. Norcros shares last traded at GBX 320, with a volume of 63,590 shares traded.

Wall Street Analyst Weigh In

NXR has been the topic of a number of research reports. Shore Capital Group reissued a “buy” rating on shares of Norcros in a research note on Thursday, November 20th. Peel Hunt reaffirmed a “buy” rating and set a GBX 340 price target on shares of Norcros in a research report on Thursday, November 20th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of GBX 460.

Norcros Stock Up 0.6%

The firm has a 50-day moving average of GBX 339.64 and a 200 day moving average of GBX 306.48. The stock has a market capitalization of £287.01 million, a price-to-earnings ratio of 22.86 and a beta of 0.95. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 44.20.

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.