Trimble (NASDAQ:TRMB) Raised to “Outperform” at Wolfe Research

Trimble (NASDAQ:TRMB) was upgraded by stock analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Monday, Marketbeat Ratings reports. The brokerage presently has a $90.00 target price on the scientific and technical instruments company’s stock. Wolfe Research’s target price points to a potential upside of 23.47% from the company’s current price.

A number of other analysts have also recently commented on TRMB. Oppenheimer boosted their price target on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and raised their price target for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Robert W. Baird upped their price target on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Sanford C. Bernstein lifted their target price on shares of Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $84.86.

Trimble Trading Down 1.8 %

Shares of NASDAQ TRMB opened at $72.89 on Monday. Trimble has a 1 year low of $48.60 and a 1 year high of $76.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. The firm has a 50-day moving average of $68.26 and a 200 day moving average of $60.41. The stock has a market cap of $17.80 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 3.15 and a beta of 1.53.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TRMB. Blue Trust Inc. grew its position 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 purchasing an additional 313 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Trimble by 722.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 520 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Trimble in the second quarter worth $48,000. Catalyst Capital Advisors LLC purchased a new stake in Trimble during the third quarter valued at $49,000. Finally, Cromwell Holdings LLC lifted its holdings in Trimble by 86.6% in the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after acquiring an additional 375 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

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.