Trimble (NASDAQ:TRMB) Stock Price Expected to Rise, Oppenheimer Analyst Says

Trimble (NASDAQ:TRMB - Get Free Report) had its price objective upped by Oppenheimer from $77.00 to $88.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the scientific and technical instruments company's stock. Oppenheimer's price objective would indicate a potential upside of 18.98% from the company's previous close.

A number of other research analysts have also recently commented on the company. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Wednesday. Robert W. Baird lifted their price objective on Trimble from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday. StockNews.com downgraded Trimble from a "buy" rating to a "hold" rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised Trimble from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $84.00.

Trimble Price Performance

NASDAQ TRMB traded down $0.16 during trading hours on Wednesday, reaching $73.96. The company's stock had a trading volume of 1,429,246 shares, compared to its average volume of 1,343,510. The firm's 50-day moving average price is $67.06 and its 200-day moving average price is $59.77. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. Trimble has a 1 year low of $47.20 and a 1 year high of $76.97. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 3.20 and a beta of 1.53.

Hedge Funds Weigh In On Trimble

Several large investors have recently modified their holdings of the stock. Farrow Financial Inc. lifted its holdings in Trimble by 0.5% during the 3rd quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company's stock valued at $2,425,000 after buying an additional 192 shares in the last quarter. Empowered Funds LLC lifted its holdings in Trimble by 3.4% during the 3rd quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company's stock valued at $360,000 after buying an additional 193 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of Trimble by 4.6% in the 2nd quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company's stock valued at $276,000 after purchasing an additional 219 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Trimble by 5.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company's stock valued at $247,000 after purchasing an additional 219 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Trimble by 4.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,666 shares of the scientific and technical instruments company's stock valued at $352,000 after purchasing an additional 237 shares in the last quarter. Institutional investors own 93.21% of the company's stock.

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.