TriMas (TRS) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of TriMas (NASDAQ:TRS) from a buy rating to a hold rating in a report issued on Tuesday.
According to Zacks, “TriMas guides EPS at $1.65-$1.75 for 2018, reflecting year-over-year growth of 21% at the mid-point. Organic sales will be up 5%. TriMas will benefit from focus on leveraging the TriMas Business Model. Its innovative solutions through product, process or service, as well as extensive resources will help enhance business performance. The Specialty segment will grow on the back of recovering energy and industrial end-markets. The packaging segment will benefit from new products and realignment of its manufacturing footprint. The stock has outperformed the industry over the past year. However, the company’s results are being impacted by higher commodity costs, particularly steel, aluminum and oil based commodities. Near-term headwinds in the Aerospace and Packaging segments also remain concerns. The company has a mixed record of earnings surprises in the last few quarters.”
A number of other equities research analysts have also recently weighed in on TRS. BidaskClub cut shares of TriMas from a strong-buy rating to a buy rating in a report on Thursday, June 21st. JPMorgan Chase & Co. cut shares of TriMas from an overweight rating to a neutral rating in a report on Thursday, July 12th. BMO Capital Markets upped their price objective on shares of TriMas from $33.00 to $34.00 and gave the stock an outperform rating in a report on Wednesday, August 8th. Finally, ValuEngine cut shares of TriMas from a buy rating to a hold rating in a report on Friday, October 12th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. TriMas has a consensus rating of Hold and an average target price of $31.75.
TriMas (NASDAQ:TRS) last announced its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. The company had revenue of $224.90 million for the quarter, compared to analysts’ expectations of $220.20 million. TriMas had a net margin of 6.27% and a return on equity of 13.10%. TriMas’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. As a group, equities analysts predict that TriMas will post 1.72 EPS for the current fiscal year.
In other TriMas news, CFO Robert J. Zalupski sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $31.08, for a total value of $155,400.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of TriMas by 4.3% in the second quarter. BlackRock Inc. now owns 3,019,119 shares of the industrial products company’s stock worth $88,761,000 after buying an additional 124,442 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of TriMas by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,592,708 shares of the industrial products company’s stock worth $76,225,000 after buying an additional 76,955 shares in the last quarter. Royce & Associates LP lifted its stake in shares of TriMas by 5.7% in the second quarter. Royce & Associates LP now owns 761,460 shares of the industrial products company’s stock worth $22,387,000 after buying an additional 41,000 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of TriMas by 14.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 743,411 shares of the industrial products company’s stock worth $21,857,000 after buying an additional 96,410 shares in the last quarter. Finally, United Services Automobile Association lifted its stake in shares of TriMas by 17.4% in the second quarter. United Services Automobile Association now owns 733,022 shares of the industrial products company’s stock worth $21,551,000 after buying an additional 108,880 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.
TriMas Company Profile
TriMas Corporation manufactures and sells products for consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas markets worldwide. The company operates through four segments: Packaging, Aerospace, Energy, and Engineered Components. The Packaging segment designs and manufactures industrial closure products, including steel drum and plastic enclosures, plastic drum closures, and plastic pail dispensers and plugs; and specialty dispensing products, such as foamers, lotion pumps, fine mist sprayers, and other packaging solutions for the cosmetic, personal care, and household product markets, as well as specialty plastic closures for bottles and jars, and dispensing pumps for the food and beverage markets.
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