Trifast (TRI)

Sector:

Engineering

Index:

FTSE Small Cap

122.00p
   
  • Change Today:
      0.25p
  • 52 Week High: 193.00
  • 52 Week Low: 91.00
  • Currency: UK Pounds
  • Shares Issued: 135.93m
  • Volume: 80,440
  • Market Cap: £165.83m

ShoreCap downgrades Trifast, highlights long-term decline in auto industry

By Alexander Bueso

Date: Friday 14 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at ShoreCap downgraded their recommendation for shares of Trifast after the company guided towards the lower end of its previous guidance range on the back of more challenging than expected market conditions.
Given the company's, which specialises in making high quality industrial fastenings, fixed cost base, its margins were set to be squeezed by lower sales.

Furthermore, weakness in sectors such as autos - which accounted for a third of Trifast's sales in 2019 - could be structural, the analysts said.

"Volkmar Denner, CEO of Bosch, has suggested last month that production in the sector may have already peaked. Uber Technologies has been disruptive to the sector already and an increase in investment in public transport is likely to reduce car ownership, in our view," Tom Fraine and Rob Sanders wrote in a research note sent to clients.

However, the manufacturer's engineering expertise should help it gain market share.

And its Project Atlas programme was expected to be transformational, allowing the firm to "further develop and globalise the company's supplier networks and reduce input costs."

Unfortunately, the bulk of the benefits were not seen coming through until after 2022, to which ShoreCap added their concerns about the long-term prospects for the automobile sector and on shorter time spans for general industrial production.

ShoreCap moved from 'buy' to 'hold' and said that it would review its fair value estimate for the stock.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Trifast Market Data

Currency UK Pounds
Share Price 122.00p
Change Today 0.25p
% Change 0.21 %
52 Week High 193.00
52 Week Low 91.00
Volume 80,440
Shares Issued 135.93m
Market Cap £165.83m

Trifast Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
17.25% above the market average17.25% above the market average17.25% above the market average17.25% above the market average17.25% above the market average
10.53% above the sector average10.53% above the sector average10.53% above the sector average10.53% above the sector average10.53% above the sector average
Price Trend
58.51% below the market average58.51% below the market average58.51% below the market average58.51% below the market average58.51% below the market average
36.59% below the sector average36.59% below the sector average36.59% below the sector average36.59% below the sector average36.59% below the sector average
Income
83.95% below the market average83.95% below the market average83.95% below the market average83.95% below the market average83.95% below the market average
8.33% above the sector average8.33% above the sector average8.33% above the sector average8.33% above the sector average8.33% above the sector average
Growth
86.22% below the market average86.22% below the market average86.22% below the market average86.22% below the market average86.22% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Trifast Dividends

  Latest Previous
  Interim Final
Ex-Div 12-Mar-20 12-Sep-19
Paid 09-Apr-20 11-Oct-19
Amount 1.20p 3.05p

Trades for 23-Oct-2020

Time Volume / Share Price
16:29 25 @ 118.50p
15:34 1,199 @ 124.40p
12:45 10 @ 125.00p
12:36 18 @ 125.00p
12:10 415 @ 120.00p

Trifast Key Personnel

Chair Jonathan Shearman
CEO Mark Belton
CFO Clare Foster

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