Norcros (LON:NXR) Stock Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• Norcros shares fell below their 200-day moving average, reaching GBX 295 and closing at GBX 296, below the GBX 302.56 long-term average.
• Despite the technical weakness, analysts maintained a positive outlook: Norcros has a consensus “Buy” rating and an average price target of GBX 470, including Berenberg’s GBX 440 target.
• The company reported quarterly revenue of £393.4 million and earnings of GBX 36.30 per share, while insider Thomas Willcocks sold 47,618 shares for approximately £149,521.

Norcros plc (LON:NXR - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 302.56 and traded as low as GBX 295. Norcros shares last traded at GBX 296, with a volume of 55,801 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Shore Capital Group reaffirmed a "house stock" rating on shares of Norcros in a research report on Wednesday, July 22nd. Berenberg Bank reissued a "buy" rating and issued a GBX 440 price target on shares of Norcros in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of GBX 470.

Norcros Price Performance

The company has a 50-day moving average of GBX 317.23 and a 200 day moving average of GBX 302.56. The company has a debt-to-equity ratio of 65.07, a quick ratio of 0.91 and a current ratio of 1.92. The firm has a market cap of £264.37 million, a P/E ratio of 986.67 and a beta of 1.05.

Norcros (LON:NXR - Get Free Report) last announced its quarterly earnings results on Wednesday, June 17th. The company reported GBX 36.30 earnings per share for the quarter. Norcros had a return on equity of 0.15% and a net margin of 0.08%.The firm had revenue of £393.40 million for the quarter. On average, sell-side analysts anticipate that Norcros plc will post 31.3118812 EPS for the current year.

Insider Activity at Norcros

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

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.

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.