Trimble Inc. (NASDAQ:TRMB) Receives $66.67 Average Target Price from Analysts

Shares of Trimble Inc. (NASDAQ:TRMB - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $66.67.

Several research analysts have commented on TRMB shares. StockNews.com upgraded shares of Trimble from a "hold" rating to a "buy" rating in a research report on Thursday, September 12th. Oppenheimer reaffirmed an "outperform" rating and issued a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $73.00 price target on shares of Trimble in a research note on Monday, August 19th. Robert W. Baird upped their price target on shares of Trimble from $65.00 to $66.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Trimble from $58.00 to $66.00 and gave the stock a "neutral" rating in a research note on Thursday, September 19th.

Trimble Stock Performance

NASDAQ TRMB traded down $0.03 on Tuesday, hitting $61.48. The stock had a trading volume of 948,880 shares, compared to its average volume of 1,544,078. Trimble has a one year low of $39.57 and a one year high of $65.55. 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 stock has a market cap of $15.01 billion, a price-to-earnings ratio of 64.04, a P/E/G ratio of 2.79 and a beta of 1.49. The company's 50-day moving average is $56.42 and its two-hundred day moving average is $57.21.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its earnings results 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 net margin of 40.70% and a return on equity of 10.94%. The firm had revenue of $870.80 million during the quarter, compared to analysts' expectations of $862.50 million. During the same quarter in the prior year, the firm earned $0.51 EPS. Trimble's quarterly revenue was down 12.4% on a year-over-year basis. On average, analysts expect that Trimble will post 2.23 earnings per share for the current year.

Institutional Trading of Trimble

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRMB. Tobam acquired a new stake in Trimble during the first quarter valued at approximately $35,000. GPS Wealth Strategies Group LLC lifted 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 purchasing an additional 479 shares during the last quarter. Blue Trust Inc. lifted its stake in Trimble by 96.0% during the second 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. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trimble in the 2nd quarter valued at approximately $48,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Trimble in the 2nd quarter valued at approximately $52,000. 93.21% of the stock is owned by institutional investors and hedge funds.

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.