Trimble Inc. (NASDAQ:TRMB) Receives $66.67 Consensus Target Price from Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $66.67.

TRMB has been the topic of a number of research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research note on Monday, May 6th. JPMorgan Chase & Co. lifted their price target on Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler reissued an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research note on Monday, May 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a $65.00 target price on shares of Trimble in a research note on Wednesday, May 15th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Frazier Financial Advisors LLC acquired a new position in Trimble in the 4th quarter valued at about $26,000. Tobam purchased a new stake in shares of Trimble during the 1st quarter valued at approximately $35,000. GPS Wealth Strategies Group LLC lifted its holdings in 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 acquiring an additional 479 shares during the last quarter. Blue Trust Inc. grew its position in 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 acquiring an additional 313 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Trimble during the fourth quarter worth $52,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

Shares of TRMB stock opened at $54.54 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. Trimble has a 12-month low of $39.57 and a 12-month high of $65.55. The business’s 50 day moving average is $55.89 and its two-hundred day moving average is $57.57. The company has a market capitalization of $13.32 billion, a P/E ratio of 56.81, a P/E/G ratio of 2.46 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last announced its earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $953.30 million for the quarter, compared to analyst estimates of $921.15 million. Trimble had a return on equity of 12.04% and a net margin of 6.25%. Analysts expect that Trimble will post 2.21 EPS for the current fiscal 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.