Analysts Set Trimble Inc. (NASDAQ:TRMB) Price Target at $65.33

Trimble Inc. (NASDAQ:TRMB) has been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $65.33.

Several analysts recently weighed in on the stock. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Piper Sandler restated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research report on Monday, August 19th. JPMorgan Chase & Co. cut their price objective on Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird increased their target price 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. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th.

Trimble Price Performance

TRMB stock opened at $58.31 on Friday. The stock has a market cap of $14.24 billion, a price-to-earnings ratio of 60.74, a P/E/G ratio of 2.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. The company has a 50 day simple moving average of $55.13 and a 200 day simple moving average of $57.50. Trimble has a 1 year low of $39.57 and a 1 year high of $65.55.

Trimble (NASDAQ:TRMB) last announced its quarterly 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 firm had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. During the same period last year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. Research analysts anticipate that Trimble will post 2.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Frazier Financial Advisors LLC purchased a new position in shares of Trimble during the fourth quarter valued at approximately $26,000. Tobam bought a new stake in Trimble during the first quarter worth $35,000. GPS Wealth Strategies Group LLC boosted its position in 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 worth $36,000 after purchasing an additional 479 shares during the last quarter. Blue Trust Inc. increased its position in shares of Trimble by 96.0% during the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 313 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Trimble during the 2nd quarter worth $48,000. 93.21% of the stock is owned by 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.