Trimble (NASDAQ:TRMB) Sets New 52-Week High – Should You Buy?

Trimble Inc. (NASDAQ:TRMB)’s share price reached a new 52-week high on Wednesday . The company traded as high as $68.59 and last traded at $67.79, with a volume of 31311 shares traded. The stock had previously closed at $61.62.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TRMB shares. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday. Piper Sandler upped their price target on shares of Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Robert W. Baird lifted their price objective on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Trimble has a consensus rating of “Moderate Buy” and an average target price of $72.20.

Trimble Price Performance

The firm has a fifty day moving average of $60.14 and a two-hundred day moving average of $57.39. The stock has a market capitalization of $17.62 billion, a P/E ratio of 12.06, a P/E/G 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 announced 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. The firm had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a net margin of 40.67% and a return on equity of 10.18%. The company’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 EPS. On average, analysts predict that Trimble Inc. will post 2.25 EPS for the current year.

Institutional Trading of Trimble

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Farrow Financial Inc. grew its position in shares of Trimble by 0.5% in the 3rd quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock worth $2,425,000 after buying an additional 192 shares during the last quarter. Empowered Funds LLC boosted its stake in Trimble by 3.4% in the third quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock valued at $360,000 after acquiring an additional 193 shares in the last quarter. SVB Wealth LLC increased its position in shares of Trimble by 4.8% during the first quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock worth $286,000 after purchasing an additional 204 shares in the last quarter. Profund Advisors LLC lifted its holdings in shares of Trimble by 4.6% during 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 purchasing an additional 219 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Trimble by 5.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock worth $247,000 after buying an additional 219 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.