Norcros (LON:NXR) Shares Pass Above 200-Day Moving Average – Should You Sell?

Norcros plc (LON:NXR)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 309.20 and traded as high as GBX 311. Norcros shares last traded at GBX 301, with a volume of 294,172 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Shore Capital Group restated a “house stock” rating and set a GBX 630 price target on shares of Norcros in a research note on Tuesday, June 16th. Berenberg Bank restated a “buy” rating and set a GBX 440 price objective on shares of Norcros in a report on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 470.

Norcros Stock Up 0.3%

The firm has a market capitalization of £270.56 million, a price-to-earnings ratio of 21.50 and a beta of 1.02. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 65.07. The company’s 50 day moving average price is GBX 287.66 and its 200 day moving average price is GBX 309.20.

Norcros (LON:NXR) last released its earnings results on Wednesday, June 17th. The company reported GBX 36.30 earnings per share (EPS) for the quarter. The firm had revenue of £393.40 million for the quarter. Norcros had a return on equity of 0.15% and a net margin of 0.08%. As a group, research analysts forecast that Norcros plc will post 31.3118812 earnings per share for the current fiscal year.

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.