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

Trifast plc (LON:TRI)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-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 changing hands.

Analyst Ratings Changes

TRI has been the subject of a number of recent analyst reports. Peel Hunt reissued a “buy” rating and issued a GBX 140 target price on shares of Trifast in a research report on Tuesday, November 18th. Berenberg Bank restated a “buy” rating and set a GBX 130 price objective on shares of Trifast in a research report on Tuesday, November 18th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of GBX 135.

Trifast Price Performance

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

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

Insiders Place Their Bets

In other Trifast news, insider Nicholas Mills purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were acquired at an average price of GBX 70 per share, for a total transaction of £14,000. Insiders own 20.48% 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.