Oppenheimer Increases Trimble (NASDAQ:TRMB) Price Target to $88.00

Trimble (NASDAQ:TRMB) had its target price hoisted by investment analysts at Oppenheimer from $77.00 to $88.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the scientific and technical instruments company’s stock. Oppenheimer’s price target indicates a potential upside of 18.73% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and increased their target price for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Wednesday. Finally, Robert W. Baird increased their price target on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Trimble currently has an average rating of “Moderate Buy” and a consensus target price of $83.80.

Trimble Stock Performance

Shares of TRMB opened at $74.12 on Wednesday. The company has a market capitalization of $18.10 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 3.20 and a beta of 1.53. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. Trimble has a one year low of $46.71 and a one year high of $76.97. The company’s fifty day moving average price is $67.06 and its 200 day moving average price is $59.77.

Institutional Trading of Trimble

A number of institutional investors and hedge funds have recently modified their holdings of TRMB. Blue Trust Inc. boosted its stake in Trimble by 96.0% during the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after buying an additional 313 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its position 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 valued at $36,000 after acquiring an additional 479 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Trimble by 722.2% in the third quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock valued at $37,000 after acquiring an additional 520 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Trimble in the second quarter worth about $48,000. Finally, Catalyst Capital Advisors LLC bought a new position in Trimble during the third quarter worth about $49,000. 93.21% of the stock is currently owned by institutional investors.

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.