Berenberg Bank Raises Norcros (LON:NXR) Price Target to GBX 410

Key Points

• Berenberg Bank raised Norcros' price target from GBX 350 to GBX 410, indicating a potential upside of 46.95% from its previous close.
• Shore Capital also reiterated a "buy" rating for Norcros, contributing to a consensus "buy" rating among three research analysts.
• Insider James Eyre sold 18,751 shares at an average price of GBX 300, a transaction valued at £56,253.

Norcros (LON:NXR - Get Free Report) had its price target boosted by analysts at Berenberg Bank from GBX 350 to GBX 410 in a research note issued to investors on Monday,Digital Look reports. The brokerage currently has a "buy" rating on the stock. Berenberg Bank's price objective indicates a potential upside of 46.95% from the stock's previous close.

Separately, Shore Capital reiterated a "buy" rating on shares of Norcros in a report on Wednesday, July 23rd. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Norcros has a consensus rating of "Buy" and a consensus target price of GBX 392.50.

Norcros Trading Up 2.6%

LON NXR opened at GBX 279 on Monday. The firm has a market capitalization of £250.24 million, a PE ratio of 7,153.85 and a beta of 1.39. The company has a 50-day simple moving average of GBX 270.01 and a 200-day simple moving average of GBX 262.40. Norcros has a one year low of GBX 184.50 and a one year high of GBX 304. The company has a debt-to-equity ratio of 40.60, a quick ratio of 0.91 and a current ratio of 2.00.

Insider Activity

In other news, insider James Eyre sold 18,751 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of GBX 300, for a total value of £56,253. Corporate insiders own 35.35% of the company's stock.

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.

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