Trimble Inc. (NASDAQ:TRMB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Trimble Inc. (NASDAQ:TRMB) have been assigned an average rating of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $68.40.

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

Trimble Stock Up 1.2 %

TRMB opened at $61.21 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. The firm’s fifty day moving average price is $59.30 and its two-hundred day moving average price is $57.16. The company has a market capitalization of $14.95 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.75 and a beta of 1.49. Trimble has a fifty-two week low of $40.72 and a fifty-two week high of $65.55.

Trimble (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company 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%. Trimble’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. On average, analysts anticipate that Trimble will post 2.23 EPS for the current year.

Hedge Funds Weigh In On Trimble

A number of institutional investors have recently added to or reduced their stakes in the stock. Tobam bought a new position in Trimble during the 1st quarter worth approximately $35,000. GPS Wealth Strategies Group LLC increased its position in shares of Trimble by 303.2% during 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 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 worth $36,000 after purchasing an additional 313 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Trimble in the second quarter worth approximately $48,000. Finally, Catalyst Capital Advisors LLC bought a new position in Trimble in the third quarter valued at $49,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

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.