Trifast Share Price - TRI
|Share Name||Share Symbol||Market||Type||Share ISIN||Share Description|
|Trifast||LSE:TRI||London||Ordinary Share||GB0008883927||ORD 5P|
|Price Change||Price Change %||Share Price||Bid Price||Offer Price||High Price||Low Price||Open Price||Shares Traded||Last Trade|
|Industry Sector||Turnover (m)||Profit (m)||EPS - Basic||PE Ratio||Market Cap (m)||RN||NRN|
Trifast News, Charts, Forums & Trades
|16/11/2015||14:52||UKREG||Trifast PLC Total Voting Rights|
|13/11/2015||16:46||UKREG||Trifast PLC Holding(s) in Company|
|10/11/2015||08:40||ALNC||Trifast Lifts Dividend After Profit Grows In First Half|
|10/11/2015||07:29||ALNCF||Alliance News Flash Headline|
|10/11/2015||07:00||UKREG||Trifast PLC Half Yearly Report - six months ended 30.9.15|
|09/11/2015||15:07||UKREG||Trifast PLC Total Voting Rights|
|03/11/2015||14:33||UKREG||Trifast PLC Total Voting Rights|
|29/10/2015||07:12||UKREG||Trifast PLC Director Declaration|
|09/10/2015||17:14||UKREG||Trifast PLC Blocklisting Interim Review - SAYE Option Scheme|
|09/10/2015||17:12||UKREG||Trifast PLC Blocklisting Interim Review - Executive Option|
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|alan@bj: Fairly lengthy commentary from Simon Thompson in Investors Chronicle today, ending as follows:- "I am clearly not the only one positive on prospects for Trifast’s share price as analyst Jo Reedman at broking house N+1 Singer has an upgraded target price of 139p; David Buxton at finnCap has fair value at 152p; Henry Carver at house broker Peel Hunt has a 150p target; and both Mr Thefaut at Arden Partners and Nigel Harrison at Edison Investment Research are positive too. Offering 20 per cent share price upside to my target price of 140p, I rate Trisfast shares a buy at 116p."|
|alan@bj: Simon Thompson's latest view:- Stick with Trifast Engineering group Trifast (TRI) has just reported the "best six months' profit in the company's history," according to chief executive Jim Barker. Cutting costs boosted margins, while the VIC business - an Italian maker of fastening systems acquired in May - has integrated well. Profit forecasts for the full year have been upgraded, too, on the back of a healthy order book. The group's 13 per cent sales growth was largely down to VIC, which contributed £7.5m to the result. Strip that out and sales rose 2 per cent. But that understates the health of the business: at constant exchange rates top-line growth would have been 7 per cent, with growth across all regions. Adjusted operating profit jumped 46 per cent to £7.07m, boosted by a £1.6m contribution from VIC. Meanwhile, better sourcing, operational gearing and warehouse efficiencies drove a 130 basis point improvement in the gross margin. Mr Barker said the self-help programme started back in 2011 "keeps on giving". He also said that demand from Trifast's key customers in the automotive, electronics and telecom, domestic appliance and distributor sectors showed no sign of easing - whatever one might read about macroeconomic misery. The group is therefore investing in new manufacturing plants and recruiting additional engineers. N+1 Singer is forecasting adjusted pre-tax profit of £13.2m for the full year, giving EPS of 8p, up from £9.2m and 6p. IC VIEW The engineering sectors have been derated in recent months. But the downside is probably limited from here. Given Trifast's strong order book and potential to grow market share, the current share price - about 13 times this year's earnings - looks like a buying opportunity. Buy.|
|mike740: Jim Slaters Formula, already knew it but just checked it up on Wiki...... Out of all of Slater’s criteria, the Price Earnings Growth (PEG) ratio is the most famous. The PEG is a means of identifying shares where brokers are forecasting high earnings growth, but which are currently valued at a price that is low relative to their forecast earnings. The PEG tells us the price of the stock relative to its earnings growth rate. It is calculated by dividing its prospective P/E ratio by the estimated future growth rate in the Earnings Per Share (EPS) of the company. Using our previous example, a company with a share price of 100p and earnings per share of 10p has a P/E ratio of 100/5 = 20 Now, for example, say the brokers’ forecast earnings growth rate for this company is 20%, its PEG is calculated as PEG = P/E ratio divided by estimated future growth rate So in this example, the PEG would be calculated as P/E 20 divided by growth rate of 20, gives PEG = 1 According to Slater, a PEG of 1 means that this company is fairly valued. A PEG greater than one means that the market is paying too much for future earnings growth, whilst a PEG of below one suggests the company’s share price is undervalued. Slater looks to invest in companies that are undervalued, ie those with a PEG less than 1, and ideally below 0.75.|
|sailastra: The fact that the share price has held up so well, whilst all around is in free fall is encouraging. However given the importance of the motor industry as a major customer and the pasting that the engineering sector has taken in the last few days I think we will do well to avoid the fall out......I am out for now..|
|doodlebug4: Mikey, how come if you are supposedly such a clever clogs on EPS figures you get so many share price predictions completely wrong?!|
|mg1982: Paul Scott has written a write up this morning analysing the results. A good positive read: Results for the year ended 31 Mar 2014 have been issued this morning, and are very good. Underlying profit before tax is up 26%. Adjusted basic EPS is also up 26% to 5.95p.
I like this company, but the problem is the valuation, which is now getting pretty stretched. At 129p they are now on a PER of 21.7 times - a heady rating for a humble maker of industrial fastenings!
Part of the reason for the high rating is that the company recently announced what seems to be an excellent acquisition of a high margin Italian maker of fastenings. That acquisition is being funded by a new bank debt facility - I crunched the numbers in my report here on 7 May 2014.
So this company is now in a sweet spot where its equity is on a high PER, and it can therefore make earnings enhancing acquisitions of private companies on a cheaper rating, funded by debt, and thus create a virtuous circle of earnings upgrades fuelled by acquisitions and organic growth.
Including the Italian acquisition this year, I reckon Trifast could be heading for 8-9p EPS, whereas broker forecasts only seem to be currently at 7.4p. Therefore I suspect there could be more profit upgrades in the pipeline later this year. Although the share price is arguably already factored that in. This would tie in with the company's track record of regular upgrades - which is what you want - i.e. a company that under-promises & over-delivers.
It also has a very high - StockRank of 96, which is reassuring.
On balance I think the share price is probably about right at the moment, so it's not something I would chase up in price at this valuation, and a move upwards this strong in the last two years. After all, it is only a fastenings company, so one would imagine there is limited scope for further organic growth in both sales and margins, as they must be up against thousands of competitor companies globally.
- See more at: hxxp://www.-.com/con|
|hatter2: I agree with sentiments posted regarding the interims. I am a current holder and will probably increase the percentage of Trifast in my portfolio as there are a good number of points that attract me to this company. Things I like, in no particular order: The well communicated trading statements and reports. Very positive statements. The amount of investor information on the Trifast site with even videos going right back to the formation of the business to what gives it the edge over the competition. The numbers (based on information prior to the interims via Stockopedia): ROCE: moving increasing nicely year on year over the past five years and now reaching what I consider as attractive levels. No debt issue to worry about. Good cash flow to eps and good free cash flow. PFCF and PE similar and reasonable; just gives me confidence that manipulation of eps is not taking place. Operating margin increasing year on year over the past four and now five years. A Piotroski score of 8; again giving me further confidence in the business. Things I would like to see: Possibly a more generous dividend: however, not at the expense of the growth of the business. The above are just my thoughts and in no way a recommendation to others to invest in this company that many would see as boring; but I like to be bored. Personally I don’t see the share price flying in multiples but a 10-15% annual increase over the next couple of years would do me fine; as I say just my thoughts. The main thing that I would worry about with Trifast is the barrier to entry from potential competition. They do seem to be regarded as the quality producer in the world of fastenings. I would be interested if anybody had any thoughts on the threat of competition.|
|jeffcranbounre: Trifast is featured in today's ADVFN podcast.
You can listen to the podcast by clicking here> http://bit.ly/ADVFN0|
|paleje: Yesterday ST mentioned TRI in his column on 600 Group, it was only a short paragraph confirming his target 100p, I agree he might re-look at them and dedicate a column in the coming weeks. From yesterday:-
"Over the years, I have managed to identify a number of such recovery plays and many in my annual Bargain share portfolios. For instance, Trifast (TRI:85p), a leading global manufacturer and distributor of industrial fastenings, was a classic recovery play in last year's portfolio and one I am still very positive on as the share price makes headway towards my 100p fair value target price"
|alan@bj: Simon Thompson's summary in today's IC update:- The shares are also attractively priced on just 1.2 times book value, an anomalous valuation for a company forecast to grow earnings per share by 17 per cent between March 2013 and 2015. It's worth pointing out, too, that the balance sheet is rock solid and incredibly lowly geared which makes the earnings multiple even more attractive since we are taking on hardly any financial risk. In my opinion, a share price around 72p is a far more realistic valuation. Even then, the shares would still only be rated on 1.3 times March 2014 book value and on 13 times March 2015 earnings estimates of 5.5p a share. As I have stated in the past, with the company's 12 largest shareholders accounting for 71.8 per cent of the 108m shares in issue, I would not rule out an opportunistic bid for the company, either - if the share price doesn't start to reflect the value on offer. No matter which way I look at it, Trifast shares are a buy. Moreover, a rise in the share price above the 61.25p high which has capped progress since February this year would be a very positive signal indeed as, from a technical perspective, there is no overhead resistance until the August 2007 lows around 71p, close to my target price. That chart breakout looks imminent. Trading on a bid offer spread of 59.5p to 60.25p, I continue to rate the shares a value buy offering 20 per cent upside to my target price.|
Trifast Most Recent Trade
|Trade Type||Trade Size||Trade Price||Trade Date||Trade Time||Currency|
|AT||1,000||121.00||25 Nov 2015||13:29:59||GBX|