StockNews.com Lowers Trimble (NASDAQ:TRMB) to Hold

StockNews.com cut shares of Trimble (NASDAQ:TRMB) from a buy rating to a hold rating in a report released on Wednesday morning.

Several other analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Trimble from $65.00 to $58.00 and set a neutral rating on the stock in a research report on Wednesday, August 7th. Raymond James reaffirmed an outperform rating and issued a $65.00 price target on shares of Trimble in a research note on Wednesday, May 15th. Oppenheimer reiterated an outperform rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. Robert W. Baird boosted their target price on shares of Trimble from $65.00 to $66.00 and gave the company an outperform rating in a report on Thursday, August 8th. Finally, Piper Sandler reiterated an overweight rating and issued a $73.00 price target on shares of Trimble in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $65.33.

Trimble Stock Performance

Shares of TRMB stock opened at $55.49 on Wednesday. The firm has a market capitalization of $13.55 billion, a price-to-earnings ratio of 57.80, a PEG ratio of 2.55 and a beta of 1.48. The stock has a fifty day moving average of $55.16 and a 200 day moving average of $57.83. Trimble has a 52 week low of $39.57 and a 52 week high of $65.55. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the company posted $0.51 EPS. As a group, research analysts expect that Trimble will post 2.22 earnings per share for the current year.

Hedge Funds Weigh In On Trimble

Large investors have recently modified their holdings of the stock. Frazier Financial Advisors LLC bought a new stake in Trimble during the 4th quarter valued at about $26,000. Tobam bought a new stake in shares of Trimble during the first quarter valued at approximately $35,000. GPS Wealth Strategies Group LLC raised its holdings in Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 479 shares during the last quarter. Blue Trust Inc. raised its holdings in Trimble by 96.0% in the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 313 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Trimble in the 2nd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

About Trimble

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.