Trimble (NASDAQ:TRMB) Raised 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 sent to investors on Thursday.

A number of other equities research analysts have also recently issued reports on TRMB. JPMorgan Chase & Co. cut their target price on Trimble from $65.00 to $58.00 and set a neutral rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird boosted their target price on shares of Trimble from $65.00 to $66.00 and gave the company an outperform rating in a research note on Thursday, August 8th. Raymond James restated an outperform rating and issued a $65.00 target price on shares of Trimble in a research report on Wednesday, May 15th. Piper Sandler reaffirmed an overweight rating and set a $73.00 price target on shares of Trimble in a report on Monday, August 19th. Finally, Oppenheimer reissued an outperform rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $65.33.

Trimble Trading Up 1.5 %

NASDAQ TRMB opened at $56.50 on Thursday. Trimble has a one year low of $39.57 and a one year high of $65.55. The company has a 50-day simple moving average of $55.08 and a 200-day simple moving average of $57.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The firm has a market capitalization of $13.80 billion, a PE ratio of 58.85, a price-to-earnings-growth ratio of 2.50 and a beta of 1.48.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TRMB. Fulton Bank N.A. boosted its stake in Trimble by 2.6% during 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 purchasing an additional 199 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Trimble by 6.8% during the fourth 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 buying an additional 200 shares in the last quarter. Czech National Bank grew its holdings in Trimble by 0.5% during the first quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock worth $2,817,000 after acquiring an additional 201 shares during the period. SVB Wealth LLC raised its position in Trimble by 4.8% in the first quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock worth $286,000 after acquiring an additional 204 shares in the last quarter. Finally, Profund Advisors LLC lifted its holdings in Trimble by 4.6% in the 2nd quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock valued at $276,000 after acquiring an additional 219 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

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.