Trimble Inc. (NASDAQ:TRMB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $65.33.

A number of research analysts have recently issued reports on the company. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Thursday. Robert W. Baird upped their price target on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Piper Sandler restated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. cut their target price on Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th.

Institutional Investors Weigh In On Trimble

Several institutional investors have recently bought and sold shares of TRMB. Sanctuary Advisors LLC bought a new position in shares of Trimble during the 2nd quarter worth approximately $419,000. Aristides Capital LLC bought a new stake in Trimble in the 2nd quarter valued at about $219,000. Truist Financial Corp raised its position in shares of Trimble by 5.3% in the second quarter. Truist Financial Corp now owns 43,879 shares of the scientific and technical instruments company’s stock valued at $2,454,000 after purchasing an additional 2,200 shares during the period. Quarry LP lifted its position in shares of Trimble by 4,988.6% during the second quarter. Quarry LP now owns 2,239 shares of the scientific and technical instruments company’s stock worth $125,000 after acquiring an additional 2,195 shares in the last quarter. Finally, Creative Planning lifted its holdings in Trimble by 2.9% during the 2nd quarter. Creative Planning now owns 31,550 shares of the scientific and technical instruments company’s stock worth $1,764,000 after purchasing an additional 904 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $55.68 on Friday. The firm has a market cap of $13.60 billion, a PE ratio of 58.00, a price-to-earnings-growth ratio of 2.44 and a beta of 1.48. Trimble has a 52 week low of $39.57 and a 52 week high of $65.55. The firm’s fifty day moving average is $55.07 and its 200-day moving average is $57.61. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99.

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

Trimble Company Profile

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.