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

Norcros plc (LON:NXRGet Free Report)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 233.26 ($2.92) and traded as high as GBX 260 ($3.26). Norcros shares last traded at GBX 248 ($3.11), with a volume of 148,426 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NXR. Berenberg Bank reissued a “buy” rating and issued a GBX 325 ($4.07) price target on shares of Norcros in a research note on Thursday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 375 ($4.70) price target on shares of Norcros in a research note on Friday. Finally, Shore Capital restated a “buy” rating on shares of Norcros in a report on Thursday.

View Our Latest Stock Report on NXR

Norcros Stock Performance

The firm has a market capitalization of £221.04 million, a PE ratio of 823.33 and a beta of 1.39. The company’s 50-day moving average price is GBX 252.44 and its 200-day moving average price is GBX 234.03. 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 business also recently declared a dividend, which will be paid on Tuesday, January 14th. Investors of record on Thursday, November 28th will be paid a dividend of GBX 3.50 ($0.04) per share. The ex-dividend date of this dividend is Thursday, November 28th. This represents a yield of 1.41%. Norcros’s dividend payout ratio is currently 3,333.33%.

Norcros Company Profile

(Get Free Report)

Norcros plc, together with its subsidiaries, develops, manufactures, and markets 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; shower enclosures and trays to the residential, commercial, and hospitality sectors under the Merlyn brand; taps, mixer showers, bathroom accessories, and valves under the Vado brand; 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.

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