Trimble (NASDAQ:TRMB) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Trimble (NASDAQ:TRMB) from a hold rating to a buy rating in a research report released on Thursday morning.

Other equities research analysts have also issued research reports about the company. Robert W. Baird raised their target price on Trimble from $65.00 to $66.00 and gave the stock an outperform rating in a research report on Thursday, August 8th. Oppenheimer reissued an outperform rating and set a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of Trimble from $65.00 to $58.00 and set a neutral rating for the company in a report on Wednesday, August 7th. Raymond James reiterated an outperform rating and set a $65.00 price target on shares of Trimble in a research note on Wednesday, May 15th. Finally, Piper Sandler restated an overweight rating and issued a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $65.33.

Trimble Stock Up 1.5 %

Shares of Trimble stock opened at $56.50 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. Trimble has a 52-week low of $39.57 and a 52-week high of $65.55. The company has a market capitalization of $13.80 billion, a P/E ratio of 58.85, a P/E/G ratio of 2.50 and a beta of 1.48. The company has a 50 day moving average of $55.08 and a 200 day moving average of $57.52.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping 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 net margin of 40.70% and a return on equity of 10.94%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. As a group, research analysts forecast that Trimble will post 2.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Trimble

Large investors have recently bought and sold shares of the company. Frazier Financial Advisors LLC acquired a new position in shares of Trimble during the fourth quarter worth about $26,000. Tobam purchased a new position in Trimble in the 1st quarter valued at approximately $35,000. GPS Wealth Strategies Group LLC raised its stake in shares of Trimble by 303.2% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after buying an additional 479 shares during the last quarter. Blue Trust Inc. lifted 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 valued at $36,000 after purchasing an additional 313 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Trimble during the 2nd quarter worth approximately $48,000. 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.