Berenberg Bank Reaffirms “Buy” Rating for Norcros (LON:NXR)

Norcros (LON:NXR)‘s stock had its “buy” rating restated by stock analysts at Berenberg Bank in a report issued on Thursday,Digital Look reports. They presently have a GBX 350 ($4.53) target price on the stock. Berenberg Bank’s target price points to a potential upside of 59.09% from the company’s previous close.

NXR has been the subject of several other reports. Shore Capital restated a “buy” rating on shares of Norcros in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 375 ($4.85) target price on shares of Norcros in a report on Friday, November 22nd.

Norcros Trading Up 3.3 %

Shares of NXR stock opened at GBX 220 ($2.85) on Thursday. The firm has a 50 day moving average price of GBX 231.36 and a two-hundred day moving average price of GBX 243.35. 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 has a market capitalization of £196.74 million, a PE ratio of 7.31 and a beta of 1.39. Norcros has a 12-month low of GBX 167.50 ($2.17) and a 12-month high of GBX 283 ($3.66).

Insider Transactions at Norcros

In other Norcros news, insider Stefan Allanson bought 10,158 shares of the stock in a transaction dated Wednesday, February 5th. The shares were bought at an average cost of GBX 235 ($3.04) per share, with a total value of £23,871.30 ($30,877.38). Insiders own 10.99% of the company’s stock.

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.