Norcros (LON:NXR) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Norcros shares crossed above their 200-day moving average, reaching GBX 310.80 before closing at GBX 298, compared with the 200-day average of GBX 300.35.
• Analysts remain positive: Norcros has an average “Buy” rating and a consensus price target of GBX 470, with Berenberg assigning a GBX 440 target.
• Insider Thomas Willcocks sold 47,618 shares for approximately £149,521, while insiders collectively own 35.31% of the company.

Norcros plc (LON:NXR - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of GBX 300.35 and traded as high as GBX 310.80. Norcros shares last traded at GBX 298, with a volume of 24,880 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NXR shares. Shore Capital Group reaffirmed a "house stock" rating on shares of Norcros in a research report on Thursday, October 15th. Berenberg Bank reissued a "buy" rating and set a GBX 440 price target on shares of Norcros in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Norcros presently has an average rating of "Buy" and a consensus price target of GBX 470.

Norcros Price Performance

The stock has a fifty day moving average of GBX 306.80 and a 200 day moving average of GBX 300.35. The stock has a market cap of £266.23 million, a price-to-earnings ratio of 993.33 and a beta of 1.05. The company has a debt-to-equity ratio of 65.07, a current ratio of 1.92 and a quick ratio of 0.91.

Insider Transactions at Norcros

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