Shore Capital Group Reiterates House Stock Rating for Norcros (LON:NXR)

Norcros (LON:NXR)‘s stock had its “house stock” rating restated by Shore Capital Group in a note issued to investors on Wednesday,Digital Look reports.

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 440 target price on shares of Norcros in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Norcros has a consensus rating of “Buy” and an average target price of GBX 470.

Norcros Stock Performance

Shares of NXR stock opened at GBX 314.44 on Wednesday. The company has a market capitalization of £280.57 million, a price-to-earnings ratio of 1,048.13 and a beta of 1.04. Norcros has a 1-year low of GBX 252 and a 1-year high of GBX 374. 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 stock’s fifty day simple moving average is GBX 294.29 and its 200-day simple moving average is GBX 308.83.

Norcros (LON:NXR) last announced its quarterly earnings data on Wednesday, June 17th. The company reported GBX 36.30 earnings per share (EPS) for the quarter. Norcros had a return on equity of 0.15% and a net margin of 0.08%.The firm had revenue of £393.40 million during the quarter. On average, sell-side analysts predict that Norcros will post 31.3118812 earnings per share for the current fiscal 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.