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

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

Analysts Set New Price Targets

Separately, Berenberg Bank increased their price objective 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, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of GBX 140.

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Trifast Price Performance

The firm has a market capitalization of £119.70 million, a PE ratio of -121.43 and a beta of 0.68. The stock’s 50 day simple moving average is GBX 75.58 and its two-hundred day simple moving average is GBX 72. The company has a debt-to-equity ratio of 59.09, a quick ratio of 1.78 and a current ratio of 4.19.

Trifast (LON:TRIGet Free Report) last posted its quarterly earnings results on Thursday, July 2nd. The company reported GBX 6.46 EPS for the quarter. Trifast had a negative return on equity of 0.82% and a negative net margin of 0.47%. On average, sell-side analysts forecast that Trifast plc will post 5.8002937 EPS for the current year.

Insider Buying and Selling at Trifast

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

Trifast Company Profile

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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.

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