Trifast (LON:TRI) Reaches New 1-Year High – Time to Buy?

Trifast plc (LON:TRI)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 88.60 and last traded at GBX 88.60, with a volume of 123368 shares. The stock had previously closed at GBX 86.

Analyst Ratings Changes

Separately, Berenberg Bank boosted their target price on Trifast from GBX 130 to GBX 140 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of GBX 140.

Trifast Stock Performance

The company has a quick ratio of 1.78, a current ratio of 4.19 and a debt-to-equity ratio of 59.09. The stock has a 50 day simple moving average of GBX 74.62 and a two-hundred day simple moving average of GBX 71.86. The stock has a market capitalization of £119.65 million, a P/E ratio of -121.37 and a beta of 0.68.

Trifast (LON:TRI) last announced its quarterly earnings results on Thursday, July 2nd. The company reported GBX 6.46 earnings per share for the quarter. Trifast had a negative return on equity of 0.82% and a negative net margin of 0.47%. On average, equities analysts forecast that Trifast plc will post 5.8002937 EPS for the current fiscal year.

Insider Buying and Selling at Trifast

In other Trifast news, insider Nicholas Mills bought 3,970,000 shares of Trifast stock in a transaction dated Thursday, July 2nd. The stock was bought at an average price of GBX 68 per share, with a total value of £2,699,600. Corporate insiders own 24.54% of the company’s stock.

Trifast Company Profile

About Trifast
In 2023, TR celebrated 50 years of business with a proud heritage of serving customers with engineered fastening supply chain solutions; Our skills lie in the design, engineering, manufacture, and distribution of high-quality engineered fastenings and Category ‘C’ components principally for major global assembly industries.

As an international business we can provide customer support from across key regions in the UK & Ireland, Asia, Europe, and North America. In addition to our service locations, we operate manufacturing facilities focused on high volume cold forged fasteners and special parts.