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

Berenberg Bank reissued their buy rating on shares of Norcros (LON:NXR - Free Report) in a report released on Thursday morning, Marketbeat Ratings reports. They currently have a GBX 350 ($4.61) target price on the stock.

Norcros Price Performance

Shares of NXR stock remained flat at GBX 227 ($2.99) during trading hours on Thursday. The company's stock had a trading volume of 46,371 shares, compared to its average volume of 155,416. Norcros has a 52-week low of GBX 167.50 ($2.21) and a 52-week high of GBX 283 ($3.73). The company has a quick ratio of 0.91, a current ratio of 2.00 and a debt-to-equity ratio of 40.60. The company's fifty day moving average is GBX 221.14 and its 200 day moving average is GBX 241.21. The firm has a market capitalization of £203.00 million, a P/E ratio of 7.54 and a beta of 1.39.

Insider Activity

In other Norcros news, insider Stefan Allanson acquired 10,158 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average price of GBX 235 ($3.10) per share, for a total transaction of £23,871.30 ($31,475.87). 10.99% of the stock is owned by corporate insiders.

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.