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

Trifast plc (LON:TRI)’s stock price was up 7.9% during mid-day trading on Monday following insider buying activity. The stock traded as high as GBX 79 and last traded at GBX 79. Approximately 467,739 shares were traded during mid-day trading, an increase of 61% from the average session 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 on Thursday, July 2nd. The stock was bought at an average cost of GBX 68 per share, for a total transaction of £2,699,600.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank upped their price target on shares of Trifast from GBX 130 to GBX 140 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Trifast has an average rating of “Buy” and a consensus price target of GBX 140.

Trifast Stock Up 7.9%

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 stock has a market capitalization of £106.63 million, a P/E ratio of -108.22 and a beta of 0.67. The stock’s fifty day moving average is GBX 66.31 and its two-hundred day moving average is GBX 70.25.

Trifast (LON:TRI) last posted its quarterly earnings results 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, research analysts predict that Trifast plc will post 5.8002937 earnings per share for the current fiscal year.

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.