Norcros (LON:NXR) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Norcros plc (LON:NXR)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 265.54 ($3.55) and traded as high as GBX 295 ($3.94). Norcros shares last traded at GBX 285 ($3.81), with a volume of 411,869 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NXR. Peel Hunt reaffirmed a “buy” rating and set a GBX 340 price objective on shares of Norcros in a report on Thursday, October 16th. Shore Capital restated a “buy” rating and set a GBX 630 price target on shares of Norcros in a research report on Thursday, October 16th. Finally, Berenberg Bank lifted their price objective on Norcros from GBX 350 to GBX 410 and gave the company a “buy” rating in a research report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of GBX 438.75.

Norcros Stock Up 2.1%

The firm’s 50 day moving average price is GBX 271.25 and its 200-day moving average price is GBX 265.54. The company has a current ratio of 2.00, a quick ratio of 0.91 and a debt-to-equity ratio of 40.60. The company has a market cap of £261.00 million, a P/E ratio of 74.62 and a beta of 1.39.

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.