Trimble Inc. (NASDAQ:TRMB) Receives $68.40 Consensus Price Target from Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB) have earned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $68.40.

Several analysts have recently commented on TRMB shares. Robert W. Baird raised their price target on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a research report on Monday, August 19th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th.

Institutional Trading of Trimble

A number of hedge funds and other institutional investors have recently made changes to their positions in TRMB. Tobam purchased a new position in Trimble during the 1st quarter valued at about $35,000. GPS Wealth Strategies Group LLC grew 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 valued at $36,000 after acquiring an additional 479 shares in the last quarter. Blue Trust Inc. increased its holdings in Trimble by 96.0% during the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 313 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Trimble in the 3rd quarter worth approximately $49,000. Finally, Cromwell Holdings LLC lifted its stake 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 worth $50,000 after purchasing an additional 375 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Trimble Stock Up 0.2 %

TRMB stock opened at $61.31 on Friday. 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 has a fifty-two week low of $40.79 and a fifty-two week high of $65.55. The stock’s 50 day simple moving average is $59.30 and its 200 day simple moving average is $57.13. The company has a market cap of $14.97 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 2.71 and a beta of 1.49.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS 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 firm had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. During the same period in the prior year, the business posted $0.51 earnings per share. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, research analysts expect that Trimble will post 2.23 earnings per share for the current fiscal year.

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.