Norcros (LON:NXR) Stock Price Breaks Below 200 Day Moving Average - Here's Why

Key Points

• Norcros shares fell below their 200-day moving average, reaching GBX 286.36 before last trading at GBX 295, compared with the moving average of GBX 299.79.
• Despite the technical weakness, analysts remain positive: Norcros has a consensus “Buy” rating and an average target price of GBX 470, including Berenberg’s GBX 440 target.
• Insider Thomas Willcocks sold 47,618 shares for approximately £149,521, while insiders collectively own 35.31% of the company.

Shares of Norcros plc (LON:NXR - Get Free Report) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 299.79 and traded as low as GBX 286.36. Norcros shares last traded at GBX 295, with a volume of 120,166 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NXR. Shore Capital Group reaffirmed 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 target price on shares of Norcros in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Norcros presently has a consensus rating of "Buy" and an average target price of GBX 470.

Norcros Trading Up 0.7%

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 50-day moving average of GBX 314.03 and a 200-day moving average of GBX 299.79. The firm has a market capitalization of £263.47 million, a P/E ratio of 983.33 and a beta of 1.05.

Insider Activity

In related news, insider Thomas Willcocks sold 47,618 shares of Norcros 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.

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