Trimble (NASDAQ:TRMB) Stock Rating Lowered by Piper Sandler

Trimble (NASDAQ:TRMB) was downgraded by equities research analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

A number of other equities analysts have also commented on the company. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their price objective on Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday. Robert W. Baird increased their price objective on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday. Finally, Raymond James reiterated an “outperform” rating and issued a $65.00 price objective on shares of Trimble in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trimble presently has an average rating of “Moderate Buy” and an average target price of $65.33.

Trimble Stock Performance

NASDAQ TRMB traded up $0.11 on Wednesday, hitting $51.65. 1,285,115 shares of the stock traded hands, compared to its average volume of 1,388,422. The business’s fifty day moving average is $55.21 and its two-hundred day moving average is $57.54. Trimble has a 12 month low of $39.57 and a 12 month high of $65.55. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 53.69, a PEG ratio of 2.34 and a beta of 1.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data 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 return on equity of 10.94% and a net margin of 40.70%. The business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. During the same period in the prior year, the company earned $0.51 earnings per share. Trimble’s revenue was down 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that Trimble will post 2.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Trimble

A number of large investors have recently added to or reduced their stakes in TRMB. First Horizon Advisors Inc. lifted its stake in shares of Trimble by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock valued at $68,000 after acquiring an additional 196 shares during the last quarter. Fulton Bank N.A. lifted its stake in shares of Trimble by 2.6% in the 1st quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock valued at $497,000 after acquiring an additional 199 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Trimble by 6.8% in the 4th quarter. First Eagle Investment Management LLC now owns 3,145 shares of the scientific and technical instruments company’s stock valued at $167,000 after acquiring an additional 200 shares during the last quarter. Czech National Bank lifted its stake in shares of Trimble by 0.5% in the 1st quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock valued at $2,817,000 after acquiring an additional 201 shares during the last quarter. Finally, SVB Wealth LLC lifted its stake in shares of Trimble by 4.8% in the 1st quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock valued at $286,000 after acquiring an additional 204 shares during the last quarter. 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.