Norcros (LON:NXR) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Norcros plc (LON:NXR)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 244.05 ($2.97) and traded as low as GBX 239.20 ($2.91). Norcros shares last traded at GBX 242 ($2.94), with a volume of 234,169 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NXR. Shore Capital reaffirmed a “buy” rating on shares of Norcros in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 375 ($4.56) price target on shares of Norcros in a report on Friday, November 22nd. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 325 ($3.95) price objective on shares of Norcros in a report on Thursday, November 21st.

Norcros Price Performance

The firm has a market cap of £216.57 million, a P/E ratio of 806.67 and a beta of 1.39. The firm’s fifty day simple moving average is GBX 254.57 and its 200 day simple moving average is GBX 244.17. The company has a debt-to-equity ratio of 40.60, a quick ratio of 0.91 and a current ratio of 2.02.

Norcros Cuts Dividend

The company also recently declared a dividend, which was paid on Tuesday, January 14th. Investors of record on Thursday, November 28th were paid a dividend of GBX 3.50 ($0.04) per share. This represents a yield of 1.41%. The ex-dividend date of this dividend was Thursday, November 28th. Norcros’s payout ratio is presently 3,333.33%.

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.