Brokerages Set TriMas Corp (TRS) Price Target at $25.25
Shares of TriMas Corp (NYSE:TRS) have been assigned an average rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $25.25.
A number of brokerages have recently commented on TRS. Zacks Investment Research downgraded TriMas Corp from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. BidaskClub raised TriMas Corp from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 27th. Seaport Global Securities downgraded TriMas Corp from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research report on Friday, September 15th. J P Morgan Chase & Co raised 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. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $24.00 price objective (up previously from $22.00) on shares of TriMas Corp in a research report on Monday, July 31st.
TriMas Corp (TRS) remained flat at $27.85 during trading on Friday. The company’s stock had a trading volume of 85,260 shares. The stock’s 50 day moving average price is $25.92 and its 200-day moving average price is $23.01. The company’s market cap is $1.27 billion. TriMas Corp has a 12-month low of $17.26 and a 12-month high of $28.40.
TriMas Corp (NYSE:TRS) last released its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. The company had revenue of $213.39 million during the quarter, compared to analysts’ expectations of $205.22 million. TriMas Corp had a return on equity of 11.47% and a net margin of 6.96%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. Equities research analysts predict that TriMas Corp will post $1.42 EPS for the current year.
In other TriMas Corp news, insider Paul Swart sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $24.76, for a total transaction of $74,280.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nancy Gougarty sold 5,882 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $24.80, for a total value of $145,873.60. Following the sale, the director now directly owns 19,293 shares of the company’s stock, valued at approximately $478,466.40. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of TRS. Acrospire Investment Management LLC grew its position in TriMas Corp by 148.8% during the second quarter. Acrospire Investment Management LLC now owns 5,085 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 3,041 shares during the period. BNP Paribas Arbitrage SA grew its position in TriMas Corp by 231.1% during the second quarter. BNP Paribas Arbitrage SA now owns 7,742 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 5,404 shares during the period. Sei Investments Co. grew its position in TriMas Corp by 32.2% during the second quarter. Sei Investments Co. now owns 9,276 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 2,259 shares during the period. GW&K Investment Management LLC purchased a new stake in TriMas Corp during the second quarter valued at about $205,000. Finally, Marshall Wace North America L.P. purchased a new stake in TriMas Corp during the second quarter valued at about $248,000.
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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