Norcros (LON:NXR) Given Buy Rating at Peel Hunt

Peel Hunt reaffirmed their buy rating on shares of Norcros (LON:NXR) in a report released on Tuesday morning, ThisIsMoney.Co.Uk reports.

Separately, Numis Securities reaffirmed a buy rating and issued a GBX 300 ($3.92) price objective on shares of Norcros in a research report on Wednesday, June 12th.

Shares of NXR stock opened at GBX 217 ($2.84) on Tuesday. The firm has a market cap of $174.61 million and a price-to-earnings ratio of 9.08. The company has a debt-to-equity ratio of 49.48, a quick ratio of 1.02 and a current ratio of 1.99. Norcros has a 52 week low of GBX 183 ($2.39) and a 52 week high of GBX 233 ($3.04). The firm’s 50-day simple moving average is GBX 214.83 and its two-hundred day simple moving average is GBX 202.80.

The business also recently disclosed a dividend, which was paid on Friday, August 2nd. Shareholders of record on Thursday, June 20th were given a GBX 5.60 ($0.07) dividend. This is a positive change from Norcros’s previous dividend of $2.80. The ex-dividend date was Thursday, June 20th. This represents a yield of 2.73%. Norcros’s payout ratio is currently 0.33%.

In related news, insider Nick Kelsall acquired 4,418 shares of the stock in a transaction on Tuesday, August 6th. The shares were acquired at an average price of GBX 209 ($2.73) per share, with a total value of £9,233.62 ($12,065.36).

About Norcros

Norcros plc, together with its subsidiaries, engages in the development, manufacture, and marketing of bathroom and kitchen products in the United Kingdom and South Africa. The company manufactures and distributes electric, and mixer showers and accessories under the Triton brand name; taps, mixer showers, bathroom accessories, high end brassware, and valves under the Vado brand name; and accessories and furniture for the bathroom, such as toilet seats, wall-mounted cupboards, vanity units, shower rods, rails, and curtains to retail and trade customers under the Croydex brand name.

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