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

Key Points

• Norcros plc's stock prices fell below its 200-day moving average of GBX 258.06, reaching a low of GBX 255 during trading on Wednesday.
• Despite recent declines, analysts maintain a consensus "Buy" rating for Norcros, with target prices around GBX 350 to GBX 362.50.
• Insider James Eyre sold 18,751 shares at an average price of GBX 300, indicating continued insider transactions as 35.35% of the company's stock is held by insiders.

Norcros plc (LON:NXR - Get Free Report) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 258.06 ($3.47) and traded as low as GBX 255 ($3.43). Norcros shares last traded at GBX 258 ($3.47), with a volume of 13,999 shares.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NXR. Shore Capital restated a "buy" rating on shares of Norcros in a report on Wednesday, July 23rd. Berenberg Bank restated a "buy" rating and set a GBX 350 target price on shares of Norcros in a research note on Monday, September 8th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of GBX 362.50.

Norcros Stock Down 1.2%

The firm has a 50-day moving average price of GBX 276.27 and a two-hundred day moving average price of GBX 258.06. The firm has a market cap of £228.71 million, a price-to-earnings ratio of 6,538.46 and a beta of 1.39. The company has a debt-to-equity ratio of 40.60, a quick ratio of 0.91 and a current ratio of 2.00.

Insiders Place Their Bets

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

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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