Trimble Inc. (NASDAQ:TRMB) Receives $65.33 Consensus Price Target from Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $65.33.

TRMB has been the subject of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Robert W. Baird increased their price target on shares of 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 set a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th.

Trimble Price Performance

Trimble stock opened at $58.31 on Friday. The business’s 50 day simple moving average is $55.13 and its 200 day simple moving average is $57.50. Trimble has a 12 month low of $39.57 and a 12 month high of $65.55. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 60.74, a PEG ratio of 2.50 and a beta of 1.48. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25.

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

Hedge Funds Weigh In On Trimble

Institutional investors have recently made changes to their positions in the stock. Generation Investment Management LLP raised its stake in shares of Trimble by 89.5% during the fourth quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock worth $652,787,000 after acquiring an additional 5,796,030 shares in the last quarter. Victory Capital Management Inc. raised its position in Trimble by 1,387.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after purchasing an additional 3,589,249 shares during the period. Norges Bank bought a new stake in Trimble in the fourth quarter worth $132,319,000. AQR Capital Management LLC boosted its position in Trimble by 2,035.1% during the second quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock valued at $63,635,000 after buying an additional 1,093,275 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Trimble by 25.4% during the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after buying an additional 516,789 shares during the last quarter. Institutional investors 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.