TriMas (TRS) Looks A Solid Bet: Add To Your Portfolio Now
Zacks Investment Research | Jan 22, 2018 08:30PM ET
TriMas Corporation (NASDAQ:TRS) continues to benefit from upbeat outlook, improving manufacturing footprint and stable order patterns. Further, the company’s long-term earnings growth rate of 5% makes us confident of its inherent strength. Let’s delve deeper and find out what’s fueling this stock.
Growth Drivers
TriMas delivered third-quarter 2017 adjusted earnings per share of 39 cents, up 11.4% year over year. Also, its sales increased 3.5% year over year in the quarter. The company will continue to focus on leveraging the TriMas Business Model to drive performance. Notably, TriMas has been working diligently to mitigate near-term issues impacting its businesses. It updated its full-year earnings per share outlook to the range of $1.37-$1.43. The company also projects 2017 sales to be up 2-4% compared to the year-ago level.
Meanwhile, the company remains committed to exploring actions to improve manufacturing footprint and strategies to drive long-term success. It recently closed the sale of its Mexico City facility. Following relocation to a new facility in San Miguel, TriMas immediately began marketing the old facility to secure a solid disposition. TriMas is also in the process of exiting a location in Tulsa to reduce 2018 infrastructure costs in the Arrow Engine business.
The company continues to record more stable order patterns from customers in the Aerospace segment and is optimistic that a more consistent demand level will result in further opportunities for improved manufacturing efficiencies. In its Packaging segment, TriMas continues to invest in new products and remains focused on sales initiatives to drive sustainable, long-term growth.
Other factors that make TriMas a favorable investment option include:
Solid Zacks Rank, Score Combination
TriMas sports a Zacks Rank #1 (Strong Buy). It has a Original post
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