Trifast (LON:TRI) Reaches New 12-Month High – What’s Next?

Trifast plc (LON:TRI – Get Free Report) 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 changing hands. The stock had previously closed at GBX 86.

Wall Street Analysts Forecast Growth

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

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Trifast Price Performance

The company’s 50-day simple moving average is GBX 74.62 and its 200 day simple moving average is GBX 71.86. 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 market capitalization of £119.65 million, a price-to-earnings ratio of -121.37 and a beta of 0.68.

Trifast (LON:TRI – Get Free Report) last released its earnings results on Thursday, July 2nd. The company reported GBX 6.46 earnings per share for the quarter. Trifast had a negative net margin of 0.47% and a negative return on equity of 0.82%. Equities research analysts forecast that Trifast plc will post 5.8002937 EPS for the current year.

Insiders Place Their Bets

In other news, insider Nicholas Mills bought 3,970,000 shares of the stock in a transaction dated Thursday, July 2nd. The shares were acquired at an average price of GBX 68 per share, with a total value of £2,699,600. 24.54% of the stock is owned by company insiders.

About Trifast

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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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