Norcros (LON:NXR) Given Buy Rating at Berenberg Bank

Key Points

• Berenberg Bank reaffirmed its buy rating on Norcros and kept a GBX 440 price target, implying about 39.7% upside from the current share price.
• Shore Capital also remained bullish, reiterating a house stock rating with a GBX 630 target. Overall, analysts now have a consensus buy rating and a GBX 470 average price target.
• Norcros shares opened at GBX 315, below the 52-week high of GBX 374 but above the low of GBX 252. The company recently reported GBX 36.30 EPS for the quarter and £393.4 million in revenue.

Norcros (LON:NXR - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Berenberg Bank in a report issued on Wednesday,Digital Look reports. They currently have a GBX 440 price target on the stock. Berenberg Bank's price objective indicates a potential upside of 39.68% from the company's current price.

Separately, Shore Capital Group reissued a "house stock" rating and set a GBX 630 price target on shares of Norcros in a report on Tuesday, June 16th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of GBX 470.

Norcros Stock Performance

Norcros stock opened at GBX 315 on Wednesday. The company has a debt-to-equity ratio of 65.07, a current ratio of 1.92 and a quick ratio of 0.91. The stock has a fifty day moving average price of GBX 293.30 and a two-hundred day moving average price of GBX 309.04. Norcros has a 52-week low of GBX 252 and a 52-week high of GBX 374. The firm has a market capitalization of £281.07 million, a P/E ratio of 1,050.00 and a beta of 1.04.

Norcros (LON:NXR - Get Free Report) last issued its earnings results on Wednesday, June 17th. The company reported GBX 36.30 EPS for the quarter. Norcros had a net margin of 0.08% and a return on equity of 0.15%. The company had revenue of £393.40 million for the quarter. As a group, analysts anticipate that Norcros will post 31.3118812 EPS 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.

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