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

Shares of Trimble Inc. (NASDAQ:TRMB) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $75.40.

Several brokerages recently issued reports on TRMB. JPMorgan Chase & Co. lifted their price target on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday. Piper Sandler boosted their target price on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Robert W. Baird raised their target price on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tobam acquired a new stake in shares of Trimble in the 1st quarter valued at $35,000. GPS Wealth Strategies Group LLC increased its position 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 worth $36,000 after purchasing an additional 479 shares during the period. Blue Trust Inc. raised its holdings in Trimble by 96.0% during the 2nd 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 last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Trimble during the 2nd quarter valued at about $48,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Trimble in the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Price Performance

Trimble stock opened at $72.65 on Friday. The business has a 50 day simple moving average of $60.46 and a 200 day simple moving average of $57.49. Trimble has a one year low of $40.79 and a one year high of $73.17. The company has a market capitalization of $17.74 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 0.88.

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 analysts’ consensus estimates of $0.58 by $0.04. Trimble had a return on equity of 10.18% and a net margin of 40.67%. The company had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. During the same period last year, the business earned $0.51 earnings per share. The business’s revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts forecast that Trimble will post 2.25 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.