Trimble Inc. (NASDAQ:TRMB) Receives Average Rating of “Moderate Buy” from Brokerages

Trimble Inc. (NASDAQ:TRMB) has received a consensus recommendation of “Moderate Buy” from the five analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $68.40.

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

Trimble Trading Up 1.2 %

Shares of TRMB opened at $61.21 on Friday. The firm has a market capitalization of $14.95 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.75 and a beta of 1.49. Trimble has a 12-month low of $40.72 and a 12-month high of $65.55. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $59.30 and a 200 day moving average price of $57.16.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TRMB. Victory Capital Management Inc. grew its stake in Trimble by 1,387.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after buying an additional 3,589,249 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Trimble by 2,035.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock valued at $63,635,000 after acquiring an additional 1,093,275 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Trimble by 25.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock worth $164,087,000 after acquiring an additional 516,789 shares in the last quarter. Impax Asset Management Group plc grew its position in Trimble by 18.7% during the third quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after purchasing an additional 434,065 shares in the last quarter. Finally, Capital Group Private Client Services Inc. boosted its position in Trimble by 77.8% during the first quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock valued at $57,383,000 after purchasing an additional 390,171 shares during the last quarter. Hedge funds and other institutional investors 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.