Is TriMas Corp. overvalued or undervalued?

As of 27 April 2023, TriMas Corp. has moved from an expensive to a very expensive valuation grade. The company is currently considered overvalued based on its high P/E ratio of 40, which significantly exceeds the fair valuation of its peers. For instance, Daktronics, Inc. has a P/E of 23.31, while Myers Industries, Inc. stands at 19.17. Additionally, TriMas Corp. has an EV to EBITDA ratio of 12.16 and a Price to Book Value of 1.54, both of which are indicative of a premium valuation compared to the industry standards.
The company's financial metrics further reinforce this overvaluation stance, with a ROCE of only 5.10% and an ROE of 3.88%, suggesting that the returns generated are not commensurate with the high valuation. Despite a recent positive stock performance, with a year-to-date return of 13.38% compared to the S&P 500's 2.44%, the overall financial indicators and peer comparisons suggest that TriMas Corp. is not a compelling investment at its current price of $27.88.