Norcros (LON:NXR) Stock Passes Above 200 Day Moving Average – Time to Sell?

Norcros plc (LON:NXR)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 309.04 and traded as high as GBX 318. Norcros shares last traded at GBX 317, with a volume of 17,379 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NXR. Shore Capital Group restated a “house stock” rating and issued a GBX 630 price target on shares of Norcros in a research report on Tuesday, June 16th. Berenberg Bank reiterated a “buy” rating and issued a GBX 440 target price on shares of Norcros in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of GBX 470.

Norcros Price Performance

The company has a market capitalization of £282.85 million, a price-to-earnings ratio of 1,056.67 and a beta of 1.04. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 65.07. The company has a 50 day moving average price of GBX 293.30 and a 200 day moving average price of GBX 309.04.

Norcros (LON:NXR) last issued its quarterly earnings results on Wednesday, June 17th. The company reported GBX 36.30 earnings per share (EPS) for the quarter. The business 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, equities research analysts forecast that Norcros plc will post 31.3118812 earnings per share for the current year.

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.