Norcros (LON:NXR) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Norcros plc stock has recently crossed above its 200-day moving average, indicating potential positive momentum in the market.
• Analysts have set a price target of GBX 350 ($4.71) for Norcros, reflecting a bullish outlook following recent ratings from Berenberg Bank and Shore Capital.
• The company's most recent earnings report showed an EPS of GBX 32.60 ($0.44), with research analysts anticipating a total EPS of approximately 31.31 for the current fiscal year.

Norcros plc (LON:NXR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 248.38 ($3.34) and traded as high as GBX 279 ($3.75). Norcros shares last traded at GBX 272 ($3.66), with a volume of 15,219 shares.

Analysts Set New Price Targets

NXR has been the topic of several analyst reports. Berenberg Bank reissued a "buy" rating and issued a GBX 350 ($4.71) target price on shares of Norcros in a research note on Tuesday, July 15th. Shore Capital reissued a "buy" rating on shares of Norcros in a research note on Wednesday, July 23rd.

Norcros Price Performance

The company has a 50-day moving average of GBX 278.71 and a 200-day moving average of GBX 248.38. The company has a debt-to-equity ratio of 40.60, a quick ratio of 0.91 and a current ratio of 2.00. The firm has a market capitalization of £245.92 million, a price-to-earnings ratio of 9.13 and a beta of 1.39.

Norcros (LON:NXR - Get Free Report) last announced its earnings results on Thursday, June 12th. The company reported GBX 32.60 ($0.44) earnings per share (EPS) for the quarter. Norcros had a return on equity of 12.35% and a net margin of 6.83%. As a group, research analysts anticipate that Norcros plc will post 31.3118812 EPS for the current fiscal year.

Insider Activity at Norcros

In related news, insider James Eyre sold 18,751 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of GBX 300 ($4.03), for a total transaction of £56,253 ($75,649.54). 10.99% of the stock is currently owned by corporate insiders.

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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