Norcros (LON:NXR) Earns Buy Rating from Berenberg Bank

Norcros (LON:NXR)‘s stock had its “buy” rating reissued by equities research analysts at Berenberg Bank in a research report issued to clients and investors on Wednesday,Digital Look reports. They currently have a GBX 440 target price on the stock. Berenberg Bank’s price objective would indicate a potential upside of 39.93% from the company’s current price.

Separately, Shore Capital Group reiterated a “house stock” rating and set a GBX 630 target price on shares of Norcros in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of GBX 470.

Norcros Stock Up 0.1%

Shares of Norcros stock opened at GBX 314.44 on Wednesday. Norcros has a 1-year low of GBX 252 and a 1-year high of GBX 374. The company has a market capitalization of £280.57 million, a PE ratio of 1,048.13 and a beta of 1.04. The company has a debt-to-equity ratio of 65.07, a current ratio of 1.92 and a quick ratio of 0.91. The business has a 50-day moving average of GBX 294.29 and a 200-day moving average of GBX 308.83.

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