Norcros' (NXR) Buy Rating Reiterated at Shore Capital

Key Points

• Shore Capital has reiterated a "buy" rating for Norcros (NXR), setting a price target of GBX 630, indicating a potential upside of 114% from current levels.
• Berenberg Bank has also raised its target price for Norcros from GBX 350 to GBX 410, maintaining a "buy" rating.
• Norcros shares rose by 1.9% to GBX 294.40, with a market capitalization of £264.05 million.

Norcros (LON:NXR - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Shore Capital in a research report issued on Thursday,Digital Look reports. They currently have a GBX 630 price target on the stock. Shore Capital's target price indicates a potential upside of 114.00% from the stock's current price.

Separately, Berenberg Bank lifted their target price on Norcros from GBX 350 to GBX 410 and gave the company a "buy" rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of GBX 438.75.

Norcros Stock Up 1.9%

Shares of Norcros stock traded up GBX 5.40 during trading on Thursday, hitting GBX 294.40. 230,471 shares of the stock traded hands, compared to its average volume of 165,929. The firm has a market cap of £264.05 million, a P/E ratio of 7,548.64 and a beta of 1.39. The company has a current ratio of 2.00, a quick ratio of 0.91 and a debt-to-equity ratio of 40.60. Norcros has a 52-week low of GBX 184.50 and a 52-week high of GBX 304. The stock's fifty day simple moving average is GBX 270.33 and its 200 day simple moving average is GBX 263.08.

Insider Buying and Selling

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

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