Norcros (LON:NXR) Stock Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Norcros shares rose above their 200-day moving average, trading as high as GBX 318 and last changing hands at GBX 317, after sitting below the GBX 309.04 level.
• Analyst sentiment remains positive, with two analysts rating the stock a Buy and a consensus price target of GBX 470, while Shore Capital and Berenberg set targets of GBX 630 and GBX 440, respectively.
• Recent financial results showed modest operating performance, including quarterly EPS of GBX 36.30 on revenue of £393.4 million, alongside very thin net margin and low return on equity.

Shares of Norcros plc (LON:NXR - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 309.04 and traded as high as GBX 318. Norcros shares last traded at GBX 317, with a volume of 17,379 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NXR. Shore Capital Group restated a "house stock" rating and issued a GBX 630 price objective on shares of Norcros in a research note on Tuesday, June 16th. Berenberg Bank reiterated a "buy" rating and set a GBX 440 target price on shares of Norcros in a research note on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of GBX 470.

Norcros Stock Performance

The company has a market capitalization of £282.85 million, a P/E ratio of 1,056.67 and a beta of 1.04. The firm has a 50 day moving average price of GBX 293.30 and a two-hundred day moving average price of GBX 309.04. The company has a debt-to-equity ratio of 65.07, a quick ratio of 0.91 and a current ratio of 1.92.

Norcros (LON:NXR - Get Free Report) last issued its earnings results on Wednesday, June 17th. The company reported GBX 36.30 earnings per share (EPS) for the quarter. The business had revenue of £393.40 million during the quarter. Norcros had a return on equity of 0.15% and a net margin of 0.08%. On average, research analysts expect that Norcros plc will post 31.3118812 earnings per share for the current fiscal year.

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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