Trimble (NASDAQ:TRMB) Upgraded to “Buy” at StockNews.com

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

Several other analysts also recently commented on TRMB. JPMorgan Chase & Co. increased their price objective on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Robert W. Baird raised their price objective on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Piper Sandler reiterated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research note on Monday, August 19th. Finally, Oppenheimer reissued an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Trimble presently has an average rating of “Moderate Buy” and an average price target of $66.67.

Trimble Stock Down 1.4 %

Shares of NASDAQ TRMB opened at $60.50 on Friday. 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 firm has a market cap of $14.77 billion, a PE ratio of 9.89, a P/E/G ratio of 2.73 and a beta of 1.49. The company’s fifty day simple moving average is $59.13 and its 200 day simple moving average is $57.12. Trimble has a 12-month low of $39.57 and a 12-month high of $65.55.

Trimble (NASDAQ:TRMB) last issued its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating 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 analyst estimates of $862.50 million. During the same period in the previous year, the company posted $0.51 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Trimble will post 2.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tobam purchased a new position in shares of Trimble during the 1st quarter valued at about $35,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 479 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Trimble by 96.0% in 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 last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trimble in the 2nd quarter valued at $48,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Trimble during the 3rd quarter valued at $49,000. 93.21% of the stock is 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.