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 note issued to investors on Wednesday morning.

TRMB has been the subject of a number of other reports. Oppenheimer reissued an outperform rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday. Raymond James reiterated an outperform rating and set a $65.00 target price on shares of Trimble in a report on Wednesday, May 15th. JPMorgan Chase & Co. dropped their price target on Trimble from $65.00 to $58.00 and set a neutral rating on the stock in a research report on Wednesday. Finally, Piper Sandler reaffirmed an overweight rating and set a $73.00 price objective on shares of Trimble in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to 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 0.2 %

Shares of NASDAQ TRMB traded up $0.11 during midday trading on Wednesday, hitting $51.65. 1,286,625 shares of the company traded hands, compared to its average volume of 1,388,422. Trimble has a 12-month low of $39.57 and a 12-month high of $65.55. The firm has a market cap of $12.61 billion, a P/E ratio of 53.80, a P/E/G ratio of 2.34 and a beta of 1.50. The stock has a 50-day moving average price of $55.13 and a 200 day moving average price 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.

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 analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $870.80 million for 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%. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, analysts expect that Trimble will post 2.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Frazier Financial Advisors LLC purchased a new stake in Trimble in the 4th quarter worth $26,000. Tobam bought a new stake in shares of Trimble in the first quarter worth about $35,000. GPS Wealth Strategies Group LLC lifted its position in shares of Trimble by 303.2% in 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. 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 valued at $36,000 after buying an additional 313 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Trimble during the 2nd quarter valued at approximately $48,000. 93.21% of the stock is currently owned by institutional investors.

About Trimble

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.