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

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

Trifast Stock Performance

LON TRI opened at GBX 84.60 on Tuesday. The business has a fifty day moving average of GBX 82.38 and a 200-day moving average of GBX 73.13. Trifast has a fifty-two week low of GBX 56.20 and a fifty-two week high of GBX 95. The stock has a market cap of £114.25 million, a price-to-earnings ratio of -115.89 and a beta of 0.69. The company has a quick ratio of 1.78, a current ratio of 4.19 and a debt-to-equity ratio of 59.09.

Trifast (LON:TRI) last posted its quarterly earnings data on Thursday, July 2nd. The company reported GBX 6.46 earnings per share (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, analysts predict that Trifast will post 5.8002937 earnings per share for the current fiscal year.

Insider Activity at Trifast

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

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.