Norcros (LON:NXR) Stock Price Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• Norcros plc shares have fallen below their 200-day moving average during recent trading, indicating a potential sell signal.
• Despite this drop, analysts remain optimistic, with multiple firms including Berenberg Bank reiterating a "buy" rating and setting a price target of GBX 350.
• Insider trading activity shows that James Eyre sold 18,751 shares recently, contributing to 35.35% of the stock being held by corporate insiders.

Norcros plc (LON:NXR - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 256.69 ($3.46) and traded as low as GBX 255 ($3.44). Norcros shares last traded at GBX 259 ($3.49), with a volume of 159,170 shares.

Analysts Set New Price Targets

Several analysts have issued reports on NXR shares. Berenberg Bank restated a "buy" rating and set a GBX 350 price objective on shares of Norcros in a report on Monday, September 8th. Shore Capital reaffirmed a "buy" rating on shares of Norcros in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Norcros currently has an average rating of "Buy" and a consensus price target of GBX 362.50.

Norcros Stock Performance

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 stock has a market cap of £230.51 million, a P/E ratio of 6,589.74 and a beta of 1.39. The firm's 50-day moving average is GBX 278.11 and its two-hundred day moving average is GBX 257.50.

Insider Transactions at Norcros

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

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.