Norcros (LON:NXR) Stock Breaks Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Norcros shares fell below their 200-day moving average, reaching GBX 290 and closing at GBX 291 versus the GBX 299.23 average.
• Despite the technical weakness, analysts remain positive: Norcros has a consensus “Buy” rating and an average price target of GBX 470, with Berenberg maintaining a GBX 440 target.
• Insider Thomas Willcocks sold 47,618 shares for approximately £149,521, while corporate insiders collectively own 35.31% of the company.

Norcros plc (LON:NXR - Get Free Report)'s share price passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of GBX 299.23 and traded as low as GBX 290. Norcros shares last traded at GBX 291, with a volume of 39,866 shares.

Wall Street Analyst Weigh In

NXR has been the topic of several recent research reports. Berenberg Bank reissued a "buy" rating and issued a GBX 440 price target on shares of Norcros in a report on Wednesday, July 22nd. Shore Capital Group restated a "house stock" rating on shares of Norcros in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Norcros presently has a consensus rating of "Buy" and an average target price of GBX 470.

Norcros Stock Down 1.0%

The firm's 50-day moving average price is GBX 311.05 and its 200 day moving average price is GBX 299.23. The firm has a market cap of £259.97 million, a P/E ratio of 970.00 and a beta of 1.05. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 65.07.

Insiders Place Their Bets

In other Norcros news, insider Thomas Willcocks sold 47,618 shares of the business's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of GBX 314, for a total transaction 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.

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