Trifast (LON:TRI) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of Trifast plc (LON:TRI) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 76.94 and traded as low as GBX 75.40. Trifast shares last traded at GBX 76.80, with a volume of 47,441 shares.

Wall Street Analysts Forecast Growth

TRI has been the subject of several recent research reports. Berenberg Bank reissued a “buy” rating and set a GBX 130 price objective on shares of Trifast in a research report on Tuesday, November 18th. Peel Hunt reiterated a “buy” rating and issued a GBX 140 price target on shares of Trifast in a research note on Tuesday, November 18th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Trifast has a consensus rating of “Buy” and a consensus target price of GBX 135.

Trifast Stock Performance

The company has a debt-to-equity ratio of 48.54, a current ratio of 3.46 and a quick ratio of 1.78. The business has a 50 day moving average price of GBX 74.10 and a 200 day moving average price of GBX 76.94. The stock has a market capitalization of £105.82 million, a PE ratio of 90.11 and a beta of 1.16.

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

Insider Buying and Selling at Trifast

In other news, insider Nicholas Mills acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was bought at an average cost of GBX 70 per share, for a total transaction of £14,000. 20.48% of the stock is owned by company insiders.

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.