Trifast (LON:TRI) Shares Pass Above 200-Day Moving Average – Should You Sell?

Shares of Trifast plc (LON:TRI) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 72.46 and traded as high as GBX 87.92. Trifast shares last traded at GBX 86.40, with a volume of 43,110 shares.

Wall Street Analyst Weigh In

Separately, Berenberg Bank increased their price objective on Trifast from GBX 130 to GBX 140 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of GBX 140.

Trifast Trading Up 1.4%

The stock’s fifty day simple moving average is GBX 77.98 and its two-hundred day simple moving average is GBX 72.46. The firm has a market cap of £116.68 million, a PE ratio of -118.36 and a beta of 0.68. The company has a quick ratio of 1.78, a current ratio of 4.19 and a debt-to-equity ratio of 59.09.

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

Insider Transactions at Trifast

In related news, insider Nicholas Mills bought 3,970,000 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were acquired at an average cost of GBX 68 per share, with a total value of £2,699,600. Insiders own 24.54% of the company’s stock.

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.