Trimble (NASDAQ:TRMB) Downgraded to “Hold” Rating by StockNews.com

Trimble (NASDAQ:TRMB) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird boosted their target price on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday. Piper Sandler increased their price objective on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.40.

Trimble Stock Up 0.7 %

Trimble stock opened at $72.65 on Friday. The stock has a market capitalization of $17.74 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 3.23 and a beta of 1.49. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average of $60.46 and a two-hundred day moving average of $57.49. Trimble has a twelve month low of $40.79 and a twelve month high of $73.17.

Trimble (NASDAQ:TRMB) last issued its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. Trimble had a net margin of 40.67% and a return on equity of 10.18%. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, research analysts expect that Trimble will post 2.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TRMB. GPS Wealth Strategies Group LLC grew its stake 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 valued at $36,000 after acquiring an additional 479 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Trimble by 96.0% in the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 313 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Trimble in the third quarter valued at approximately $49,000. Cromwell Holdings LLC increased its stake in shares of Trimble by 86.6% during the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 375 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake 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.