Trifast Share Discussion Threads

[iamthemagnificent] 21/2/2023 13:35

Yep pathetic director purchase !

But much better one from Slater Investments just RNSd

[pugugly] 21/2/2023 11:43

Pushing the boat out?

The Company announces that on Monday 20 February 2023, Mr Darren Hayes-Powell, Chief Financial Officer, purchased a total of 9,333 ordinary shares of 5 pence each in the Company ("Ordinary Shares") . Mr Hayes-Powell's spouse also purchased a total of 1,825 ordinary shares of 5 pence each in the Company ("Ordinary Shares") . Following these transactions, Mr. Hayes-Powell and Persons Closely Associated with him have a beneficial interest of 11,158 Ordinary Shares in the Company.

[philanderer] 21/2/2023 10:33

Peel Hunt backs Trifast despite short-term turmoil

Trifast (TRI) boss Mark Belton has stepped down following a worrying trading update, but Peel Hunt believes there is longer-term value at the industrial fasteners engineer.

Analyst Henry Carver retained his ‘buy’ recommendation but cut the target price from 140p to 110p on the stock, which plummeted 34%, or 31p, to 61p on Monday.

While the business remained on track to deliver 11% revenue growth in 2023, profitability was ‘knocked off course’ as currency movements and ‘significant customer destocking’ hit in the third quarter.

Carver reduced his full-year 2023 earnings by 28%, while higher interest rates mean profits were downgraded 39% to £8.9m.

‘Our target price reduces to 110p, which puts the shares on a recovery rating of 16 times our new full-year 2024 earnings per share, but we keep our ‘buy’ rating,’ he said.

‘Good demand levels across the group, new business wins, and price increases taking effect give us confidence in the long-term value of the business.’

Carver added that new interim chief executive Scott Mac has an ‘in-depth knowledge of Trifast’ having been a non-executive director for nine years, as well as having a career in the fasteners industry.


citywire.com

[wall street trader] 21/2/2023 08:10

Hope this recovers for all holders - I reckon will get back to 80p area fairly quickly now

[archy147] 20/2/2023 17:16

What a giveaway that was this morning. Goes to show why you should always have some cash ready to go.

This was the best buying opportunity i can think of in the year to date

[liam1om] 20/2/2023 17:04

Sold out at the end there as can't resist a quick profit, but the strength into the close bodes well for tomorrow.

[iamthemagnificent] 20/2/2023 16:13

Have also taken a 20% profit here on this mornings buys

[sbb1x] 20/2/2023 16:03

Stacked on the bid looking to buy

[investopia] 20/2/2023 15:56

Hi Redwing1, debt not falling and earnings declining because of customer destocking look like they could be different sides of the same issue -- and it's potentially a short-term setback for the business. However, as always, it may prove to be a more enduring problem. Time will tell.

I can't help seeing the departing CEO as a positive. Potentially shows the board have recognised problems and acted decisively to find solutions

[prokartace] 20/2/2023 15:45

Yep me out too. 20% not bad for 5 hours work!

[wall street trader] 20/2/2023 15:29

well that's me out made a tidy sum and have added it to the aristocrats fund - good luck holders

[liam1om] 20/2/2023 14:51

Nice bounce from the lows if you caught it.

[redwing1] 20/2/2023 14:18

Investopia - your numbers look about right but debt is a bit of an issue having not come down as expected in the second half. Higher interest rates could be an issue for them. Also, full year numbers are going to come in 37% lower than forecast at the interim stage. What does this mean for estimates to March 2024? I suspect big cuts will be needed to brokers forecasts there too.

When a CEO of longstanding jumps, things are usually pretty bad and I for one am sitting on the sidelines for now despite the shares looking 'cheap'.

[prokartace] 20/2/2023 14:12

My feed isnt! Bought at 50p wish i had had the balls to buy big

[iamthemagnificent] 20/2/2023 13:17

ADVFN feeds seem to be working again ...


Added more at 51-52p, recovery has commenced imho.

GLA.

[archy147] 20/2/2023 12:19

Like I said before, amazing opportunity to buy. At nearly half the price of covid lows!!

[iamthemagnificent] 20/2/2023 11:55

Loaded up at 50p
Could be interesting with so few shares in issue and insti's adding recently

[prokartace] 20/2/2023 10:26

So Sandford are clever

[fastbuck] 20/2/2023 10:17

Abit of fear / risk with sudden departure of CEO.Price retraced back to late last year when a fund was dumping their stock. Very cheap on a asset basis, taking their current assets deducting all liabilities you have a value of circ £60m vs a share price value of under £40m. You are also getting all fixed assets for free.Whilst they remain profitable as they have said, and win new business as they have said.

[wall street trader] 20/2/2023 10:05

are they maintaining the dividend ?

[pugugly] 20/2/2023 09:57

investopedia - Fair comment - Have been trying to check macro trends for industrial fasteners - as yet not luck.
Trend until recently was possibly more towards gluing but with pressure now towards renewables and repair gut feel is that TRI should benefit But a always DYOR ETC

Able to buy now at sub 50p

[kemche] 20/2/2023 09:17

What has Shearman been doing all this time?

[kemche] 20/2/2023 09:16

Size 12, steel toe cap, straight to the collection of dangly objects in the trousers.

Ouch!