Peel Hunt Reiterates Buy Rating for Norcros (LON:NXR)

Key Points

• Peel Hunt has reiterated its "buy" rating for Norcros (LON:NXR) with a price target of GBX 340, indicating a potential upside of 15.49% from its current price.
• Norcros stock recently traded at GBX 294.40, up 1.9%, with a market cap of £264.05 million and an average target price from analysts of GBX 438.75.
• Insider selling occurred with James Eyre disposing of 18,751 shares at an average price of GBX 300, reflecting current market movements and potential investor sentiment.

Norcros (LON:NXR - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Peel Hunt in a report released on Thursday,Digital Look reports. They currently have a GBX 340 price objective on the stock. Peel Hunt's price objective indicates a potential upside of 15.49% from the company's current price.

NXR has been the subject of a number of other reports. Shore Capital reissued a "buy" rating and set a GBX 630 price target on shares of Norcros in a research report on Thursday. Berenberg Bank boosted their price objective on shares of Norcros from GBX 350 to GBX 410 and gave the company a "buy" rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Norcros has an average rating of "Buy" and an average target price of GBX 438.75.

Norcros Trading Up 1.9%

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

Insider Buying and Selling

In other Norcros news, insider James Eyre sold 18,751 shares of the company's stock in a transaction dated 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 corporate 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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