Trimble Inc. (NASDAQ:TRMB) Receives $84.86 Consensus Target Price from Analysts

Trimble Inc. (NASDAQ:TRMB - Get Free Report) has been assigned a consensus rating of "Buy" from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $84.86.

A number of brokerages have weighed in on TRMB. Robert W. Baird increased their target price on shares of Trimble from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research note on Wednesday, December 11th. Sanford C. Bernstein increased their target price on Trimble from $82.00 to $85.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Trimble from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Finally, Wolfe Research upgraded Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price objective on the stock in a research note on Monday, December 16th.

Trimble Stock Performance

Shares of TRMB stock traded up $1.18 on Thursday, hitting $73.90. 1,114,694 shares of the stock were exchanged, compared to its average volume of 1,282,029. The firm's 50 day moving average is $72.18 and its two-hundred day moving average is $62.70. Trimble has a one year low of $48.60 and a one year high of $76.97. The firm has a market capitalization of $18.05 billion, a PE ratio of 12.36, a P/E/G ratio of 2.92 and a beta of 1.52. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Trimble

Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in shares of Trimble in the 2nd quarter valued at about $261,000. American Century Companies Inc. increased its position in shares of Trimble by 27.9% in the second quarter. American Century Companies Inc. now owns 16,067 shares of the scientific and technical instruments company's stock worth $898,000 after purchasing an additional 3,507 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Trimble by 2.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 58,542 shares of the scientific and technical instruments company's stock valued at $3,239,000 after purchasing an additional 1,252 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Trimble by 6.5% during the second quarter. Envestnet Asset Management Inc. now owns 228,235 shares of the scientific and technical instruments company's stock valued at $12,763,000 after purchasing an additional 13,845 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in Trimble in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 93.21% of the company's stock.

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.