Trimble Inc. (NASDAQ:TRMB) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Trimble Inc. (NASDAQ:TRMB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $68.40.

TRMB has been the topic of a number of recent research reports. Piper Sandler restated an "overweight" rating and set a $73.00 price target on shares of Trimble in a research note on Monday, August 19th. JPMorgan Chase & Co. upped their target price on shares of Trimble from $58.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, September 19th. StockNews.com raised shares of Trimble from a "hold" rating to a "buy" rating in a report on Friday. Oppenheimer reaffirmed an "outperform" rating and set a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their target price on shares of Trimble from $65.00 to $66.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th.

Hedge Funds Weigh In On Trimble

A number of institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in shares of Trimble in the 3rd quarter worth $167,000. Lifestyle Asset Management Inc. bought a new position in shares of Trimble during the 3rd quarter valued at $1,045,000. Global Strategic Investment Solutions LLC bought a new position in shares of Trimble during the 3rd quarter valued at $237,000. Principal Financial Group Inc. grew its holdings in shares of Trimble by 18.4% during the 3rd quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company's stock valued at $24,296,000 after purchasing an additional 60,752 shares during the last quarter. Finally, Cornerstone Capital Inc. grew its holdings in shares of Trimble by 0.6% during the 3rd quarter. Cornerstone Capital Inc. now owns 280,287 shares of the scientific and technical instruments company's stock valued at $17,403,000 after purchasing an additional 1,790 shares during the last quarter. Institutional investors own 93.21% of the company's stock.

Trimble Stock Performance

Shares of TRMB stock traded up $0.71 during trading on Friday, reaching $61.21. 896,212 shares of the company's stock traded hands, compared to its average volume of 885,118. The company has a market capitalization of $14.95 billion, a P/E ratio of 10.00, a PEG ratio of 2.71 and a beta of 1.49. 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's 50-day moving average is $59.30 and its 200 day moving average is $57.16. Trimble has a 1 year low of $40.72 and a 1 year high of $65.55.

Trimble (NASDAQ:TRMB - Get Free Report) 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. The company had revenue of $870.80 million for the quarter, compared to analysts' expectations of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. Trimble's revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. Equities research analysts expect that Trimble will post 2.23 EPS for the current year.

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.