Trifast (LON:TRI) Stock Price Passes Above Fifty Day Moving Average – Here’s What Happened

Shares of Trifast plc (LON:TRI) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 72.97 and traded as high as GBX 80.80. Trifast shares last traded at GBX 80, with a volume of 92,884 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRI. Berenberg Bank reaffirmed a “buy” rating and set a GBX 130 price objective on shares of Trifast in a research report on Tuesday, November 18th. Peel Hunt restated a “buy” rating and set a GBX 140 target price on shares of Trifast in a research note on Tuesday, November 18th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Trifast currently has an average rating of “Buy” and a consensus target price of GBX 135.

Trifast Stock Up 0.5%

The company has a quick ratio of 1.78, a current ratio of 3.46 and a debt-to-equity ratio of 48.54. The company has a market cap of £107.98 million, a P/E ratio of 91.95 and a beta of 1.16. The company has a fifty day moving average of GBX 72.97 and a 200 day moving average of GBX 76.49.

Trifast (LON:TRI) last posted its earnings results on Tuesday, November 18th. The company reported GBX 1.09 earnings per share for the quarter. Trifast had a negative return on equity of 3.47% and a negative net margin of 1.90%. On average, research analysts anticipate that Trifast plc will post 5.8002937 earnings per share for the current fiscal year.

Insider Buying and Selling at Trifast

In other Trifast news, insider Nicholas Mills acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were bought at an average price of GBX 70 per share, with a total value of £14,000. 20.44% of the stock is owned by company 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.

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.