Analysts Set Trimble Inc. (NASDAQ:TRMB) Price Target at $68.40

Trimble Inc. (NASDAQ:TRMB) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $75.40.

A number of brokerages have recently weighed in on TRMB. StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler boosted their target price on shares of Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird raised their price target on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their target price on Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $72.65 on Friday. The stock has a market capitalization of $17.74 billion, a P/E ratio of 12.15, a P/E/G ratio of 3.23 and a beta of 1.49. The business has a 50-day moving average of $60.46 and a two-hundred day moving average of $57.49. Trimble has a fifty-two week low of $40.79 and a fifty-two week high of $73.17. 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 posted its 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 10.18% and a net margin of 40.67%. The firm had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. During the same period in the previous year, the company earned $0.51 EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities research analysts predict that Trimble will post 2.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Trimble

Institutional investors have recently added to or reduced their stakes in the company. Tobam acquired a new stake in shares of Trimble during the 1st quarter worth approximately $35,000. GPS Wealth Strategies Group LLC boosted its stake in Trimble by 303.2% during the second 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 in the last quarter. Blue Trust Inc. increased its holdings in Trimble by 96.0% in the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 313 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Trimble in the 2nd quarter valued at $48,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Trimble in the 3rd quarter valued at $49,000. 93.21% of the stock is owned by institutional investors and hedge funds.

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.