Trimble (NASDAQ:TRMB) Rating Increased to Buy at StockNews.com

Trimble (NASDAQ:TRMB) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Sunday.

TRMB has been the topic of several other reports. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their price target on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Piper Sandler upped their price objective on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.40.

Trimble Stock Performance

Shares of NASDAQ TRMB opened at $70.62 on Friday. The company has a 50 day simple moving average of $62.12 and a two-hundred day simple moving average of $57.90. The stock has a market cap of $17.25 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 3.11 and a beta of 1.49. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble has a 12 month low of $42.56 and a 12 month high of $74.22.

Institutional Trading of Trimble

Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. acquired a new stake in Trimble in the 1st quarter valued at $215,000. Empowered Funds LLC grew its position in shares of Trimble by 15.1% in the first quarter. Empowered Funds LLC now owns 5,145 shares of the scientific and technical instruments company’s stock valued at $331,000 after purchasing an additional 675 shares during the period. M&G Plc purchased a new stake in shares of Trimble during the first quarter worth about $1,255,000. Trustmark National Bank Trust Department acquired a new position in shares of Trimble during the 1st quarter worth about $579,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Trimble in the 1st quarter valued at about $354,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

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.