In a report released today, Hamed Khorsand from BWS Financial maintained a Buy rating on Trimas, with a price target of $45.00.
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Hamed Khorsand has given his Buy rating due to a combination of factors that highlight the positive trajectory of TriMas Corp. (TRS). The company is experiencing significant growth in its packaging and aerospace divisions, with the aerospace sector expected to expand further due to an enhanced partnership with Airbus. This growth is complemented by signs of recovery in the Norris Cylinders segment, which collectively indicates a robust performance across all business areas.
Furthermore, TRS has exceeded sales expectations, reporting $274.8 million in the second quarter against a projected $252.3 million. The company has also revised its sales growth forecast upwards to 8-10%, with an anticipated non-GAAP EPS between $1.95 and $2.10, positioning it to achieve $1 billion in sales by 2025. These factors, along with an increased price target from $40 to $45, underpin Khorsand’s Buy rating for TRS.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TRS in relation to earlier this year.