Trifast (LON:TRI) Releases Earnings Results

Trifast (LON:TRI) posted its quarterly earnings results on Thursday. The company reported GBX 6.46 earnings per share for the quarter, Digital Look Earnings reports. Trifast had a net margin of 0.54% and a return on equity of 0.95%.

Trifast Stock Up 2.6%

TRI traded up GBX 1.80 during trading hours on Thursday, hitting GBX 72. 8,471,933 shares of the company’s stock were exchanged, compared to its average volume of 286,891. The firm has a market cap of £97.18 million, a P/E ratio of 82.76 and a beta of 0.68. Trifast has a 12-month low of GBX 56.20 and a 12-month high of GBX 88.80. The company has a current ratio of 3.82, a quick ratio of 1.78 and a debt-to-equity ratio of 69.36. The firm has a 50 day moving average of GBX 66.19 and a 200 day moving average of GBX 70.27.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank raised their target price on shares of Trifast from GBX 130 to GBX 140 and gave the stock a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of GBX 140.

Insider Transactions at Trifast

In other news, insider Iain Percival acquired 4,621 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were bought at an average cost of GBX 68 per share, with a total value of £3,142.28. Also, insider Clive Watson purchased 973 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was acquired at an average price of GBX 71 per share, for a total transaction of £690.83. Insiders own 21.70% 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.