TriMas Corp (TRS) Downgraded to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of TriMas Corp (NYSE:TRS) from a hold rating to a sell rating in a research report report published on Monday.
According to Zacks, “TriMas’ results will be impacted by currency volatility and uncertainty in the broader macroeconomic environment. A stronger dollar makes product exports more difficult and translation impacts hamper sales of the company’s packaging and energy businesses, in Europe and the UK. Lower oil prices have affected the Arrow Engine business, which serves the upstream oil and natural gas markets at the well site, within its Engineered Components segment. In the packaging segment, the company continues to witness softer sales in certain segments of the U.S. market, primarily in health, beauty and home care. This will impact the segment’s sales in second-half 2017. Its estimates have gone down recently.”
TRS has been the subject of a number of other research reports. BidaskClub upgraded shares of TriMas Corp from a sell rating to a hold rating in a research note on Tuesday, July 11th. ValuEngine raised shares of TriMas Corp from a hold rating to a buy rating in a report on Friday, July 28th. Jefferies Group LLC reissued a hold rating and issued a $24.00 price target (up from $22.00) on shares of TriMas Corp in a report on Monday, July 31st. Finally, J P Morgan Chase & Co upgraded shares of TriMas Corp from a neutral rating to an overweight rating and set a $27.00 price objective for the company in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $24.80.
TriMas Corp (TRS) opened at 27.55 on Monday. TriMas Corp has a 52 week low of $17.26 and a 52 week high of $27.60. The company’s 50-day moving average price is $25.13 and its 200 day moving average price is $22.67. The company’s market capitalization is $1.26 billion.
TriMas Corp (NYSE:TRS) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. TriMas Corp had a return on equity of 11.47% and a net margin of 6.96%. The business had revenue of $213.39 million for the quarter, compared to analysts’ expectations of $205.22 million. During the same quarter in the prior year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts predict that TriMas Corp will post $1.43 EPS for the current year.
In related news, insider Paul Swart sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $24.76, for a total value of $74,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nancy Gougarty sold 5,882 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $24.80, for a total value of $145,873.60. Following the completion of the sale, the director now owns 19,293 shares of the company’s stock, valued at $478,466.40. The disclosure for this sale can be found here.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Credit Suisse AG grew its holdings in shares of TriMas Corp by 12.4% during the 1st quarter. Credit Suisse AG now owns 48,151 shares of the industrial products company’s stock worth $999,000 after purchasing an additional 5,315 shares in the last quarter. Royce & Associates LP raised its stake in TriMas Corp by 372.3% in the second quarter. Royce & Associates LP now owns 519,572 shares of the industrial products company’s stock valued at $10,833,000 after purchasing an additional 409,572 shares in the last quarter. AMI Investment Management Inc. raised its stake in TriMas Corp by 88.3% in the second quarter. AMI Investment Management Inc. now owns 102,825 shares of the industrial products company’s stock valued at $2,144,000 after purchasing an additional 48,225 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in TriMas Corp by 26.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 522,959 shares of the industrial products company’s stock worth $10,851,000 after purchasing an additional 109,664 shares during the period. Finally, Citadel Advisors LLC lifted its position in TriMas Corp by 12.3% during the first quarter. Citadel Advisors LLC now owns 133,615 shares of the industrial products company’s stock worth $2,773,000 after purchasing an additional 14,662 shares during the period.
About TriMas Corp
TriMas Corporation is a designer, manufacturer and distributor of engineered products for commercial, industrial and consumer markets. The Company operates through four segments: Packaging, Aerospace, Energy and Engineered Components. The Packaging segment is a designer, manufacturer and distributor of engineered closure and dispensing systems for a range of end markets, including steel and plastic industrial, and consumer packaging applications.
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