Trifast (LON:TRI) Earns Buy Rating from Berenberg Bank

Trifast (LON:TRI)‘s stock had its “buy” rating restated by investment analysts at Berenberg Bank in a report issued on Tuesday, London Stock Exchange reports. They presently have a GBX 140 target price on the stock. Berenberg Bank’s price objective would suggest a potential upside of 65.48% from the company’s current price.

Trifast Trading Down 2.1%

LON TRI opened at GBX 84.60 on Tuesday. 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 firm has a 50 day moving average of GBX 82.38 and a two-hundred day moving average of GBX 73.13. The stock has a market capitalization of £114.25 million, a PE ratio of -115.89 and a beta of 0.69. Trifast has a 52 week low of GBX 56.20 and a 52 week high of GBX 95.

Trifast (LON:TRI) last posted its 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%. As a group, research analysts expect that Trifast will post 5.8002937 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trifast news, insider Nicholas Mills acquired 3,970,000 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were bought at an average cost of GBX 68 per share, for a total transaction of £2,699,600. 24.54% of the stock is currently owned by corporate insiders.

About Trifast

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.