Brokerages Set Trimble Inc. (NASDAQ:TRMB) Price Target at $66.67

Trimble Inc. (NASDAQ:TRMB) has been given a consensus rating of “Moderate Buy” by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $66.67.

A number of brokerages have issued reports on TRMB. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Robert W. Baird lifted their price objective on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Piper Sandler reissued an “overweight” rating and set a $73.00 target price on shares of Trimble in a research report on Monday, August 19th.

Trimble Stock Down 0.8 %

Shares of NASDAQ TRMB opened at $61.74 on Tuesday. 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 has a 52-week low of $39.57 and a 52-week high of $65.55. The business has a 50-day moving average price of $56.76 and a 200 day moving average price of $57.28. The stock has a market cap of $15.08 billion, a PE ratio of 64.31, a price-to-earnings-growth ratio of 2.79 and a beta of 1.49.

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. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The business had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. Equities research analysts forecast that Trimble will post 2.23 earnings per share for the current year.

Institutional Trading of Trimble

Large investors have recently added to or reduced their stakes in the company. Tobam bought a new stake in Trimble in the first quarter valued at approximately $35,000. GPS Wealth Strategies Group LLC boosted its holdings in shares of Trimble by 303.2% in the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 479 shares during the period. Blue Trust Inc. increased its position in shares of Trimble by 96.0% during the second 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 in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Trimble in the 2nd quarter worth $48,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Trimble in the 2nd quarter valued at about $52,000. 93.21% of the stock is owned by institutional investors.

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.