Trifast (LON:TRI) Trading Up 7.9% After Insider Buying Activity

Trifast plc (LON:TRI)’s share price traded up 7.9% during trading on Monday following insider buying activity. The company traded as high as GBX 79 and last traded at GBX 79. Approximately 467,739 shares traded hands during trading, an increase of 61% from the average daily volume of 290,439 shares. The stock had previously closed at GBX 73.20.

Specifically, insider Nicholas Mills purchased 3,970,000 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were acquired at an average price of GBX 68 per share, for a total transaction of £2,699,600.

Analyst Upgrades and Downgrades

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

Trifast Stock Performance

The company has a debt-to-equity ratio of 59.09, a current ratio of 4.19 and a quick ratio of 1.78. The firm has a market capitalization of £106.63 million, a price-to-earnings ratio of -108.22 and a beta of 0.67. The firm’s fifty day moving average is GBX 66.31 and its 200 day moving average is GBX 70.25.

Trifast (LON:TRI) last announced its quarterly earnings data on Thursday, July 2nd. The company reported GBX 6.46 EPS for the quarter. Trifast had a negative net margin of 0.47% and a negative return on equity of 0.82%. On average, analysts predict that Trifast plc will post 5.8002937 EPS for the current fiscal year.

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.