Berenberg Bank Reaffirms “Buy” Rating for Trifast (LON:TRI)

Trifast (LON:TRI)‘s stock had its “buy” rating reaffirmed by Berenberg Bank in a note issued to investors on Tuesday, MarketBeat reports. They presently have a GBX 130 price objective on the stock. Berenberg Bank’s price objective would suggest a potential upside of 62.50% from the company’s current price.

Trifast Price Performance

TRI stock opened at GBX 80 on Tuesday. Trifast has a one year low of GBX 56 and a one year high of GBX 87. The company’s fifty day moving average price is GBX 73.90 and its 200-day moving average price is GBX 70.07. The company has a debt-to-equity ratio of 48.54, a quick ratio of 1.78 and a current ratio of 3.46. The company has a market capitalization of £110.68 million, a PE ratio of -24.95 and a beta of 1.16.

Trifast (LON:TRI) last released its earnings results on Thursday, July 10th. The company reported GBX 4.31 EPS for the quarter. Trifast had a negative net margin of 1.90% and a negative return on equity of 3.47%. On average, equities analysts anticipate that Trifast will post 5.8002937 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trifast news, insider Serena Lang purchased 31,184 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average price of GBX 72 per share, with a total value of £22,452.48. Also, insider Nicholas Mills purchased 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were acquired at an average cost of GBX 66 per share, for a total transaction of £330,000. 13.71% of the stock is owned by corporate insiders.

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.