JPMorgan Chase & Co. Increases Trimble (NASDAQ:TRMB) Price Target to $66.00

Trimble (NASDAQ:TRMB) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $58.00 to $66.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the scientific and technical instruments company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 12.69% from the company’s previous close.

A number of other research firms have also recently weighed in on TRMB. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Robert W. Baird upped their price target on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price target on shares of Trimble in a report on Monday, August 19th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trimble has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Trimble Stock Down 2.7 %

Trimble stock opened at $58.57 on Thursday. The company has a market cap of $14.30 billion, a PE ratio of 61.01, a PEG ratio of 2.63 and a beta of 1.48. The business’s 50-day simple moving average is $55.32 and its two-hundred day simple moving average is $57.50. 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 has a fifty-two week low of $39.57 and a fifty-two week high of $65.55.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. Equities analysts anticipate that Trimble will post 2.22 EPS for the current year.

Hedge Funds Weigh In On Trimble

A number of hedge funds have recently made changes to their positions in TRMB. Frazier Financial Advisors LLC acquired a new position in shares of Trimble during the fourth quarter valued at approximately $26,000. Tobam purchased a new stake in shares of Trimble in the first quarter valued at approximately $35,000. GPS Wealth Strategies Group LLC grew its position 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 purchasing an additional 479 shares in the last quarter. Blue Trust Inc. grew its position 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 valued at $36,000 after purchasing an additional 313 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trimble in the second quarter valued at approximately $48,000. Institutional investors and hedge funds 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.