Trimble (NASDAQ:TRMB) Downgraded by StockNews.com

Trimble (NASDAQ:TRMB) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other analysts also recently issued reports on the stock. 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. Piper Sandler restated an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a report on Monday, August 19th. JPMorgan Chase & Co. upped their target price on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, Oppenheimer restated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Trading Up 0.4 %

Trimble stock traded up $0.26 during mid-day trading on Thursday, hitting $60.56. 904,354 shares of the company’s stock were exchanged, compared to its average volume of 1,348,829. The firm has a market capitalization of $14.79 billion, a P/E ratio of 9.90, a PEG ratio of 2.70 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. The company’s 50 day simple moving average is $58.55 and its 200-day simple moving average is $57.14. Trimble has a fifty-two week low of $39.57 and a fifty-two week high of $65.55.

Trimble (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The business had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. During the same period in the prior year, the business earned $0.51 EPS. Trimble’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities analysts anticipate that Trimble will post 2.23 earnings per share for the current year.

Institutional Trading of Trimble

A number of hedge funds have recently modified their holdings of the stock. Tobam acquired a new position in Trimble in the 1st quarter valued at about $35,000. GPS Wealth Strategies Group LLC grew 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 valued at $36,000 after purchasing an additional 479 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Trimble by 96.0% during the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 313 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Trimble during the 2nd quarter worth approximately $48,000. Finally, Cromwell Holdings LLC grew its holdings in Trimble by 86.6% in the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after buying an additional 375 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

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.