Norcros (LON:NXR) Share Price Crosses Below 200 Day Moving Average - What's Next?

Norcros plc (LON:NXR - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 300.94 and traded as low as GBX 296. Norcros shares last traded at GBX 296, with a volume of 146,620 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Shore Capital Group reiterated a "house stock" rating on shares of Norcros in a research note on Wednesday, July 22nd. Berenberg Bank reiterated a "buy" rating and issued a GBX 440 price objective on shares of Norcros in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of GBX 470.

Norcros Stock Performance

The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 65.07. The company's 50-day moving average is GBX 316.31 and its two-hundred day moving average is GBX 300.94. The company has a market capitalization of £264.37 million, a P/E ratio of 986.67 and a beta of 1.05.

Insider Buying and Selling

In other Norcros news, insider Thomas Willcocks sold 47,618 shares of the business's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of GBX 314, for a total value of £149,520.52. 35.31% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.