Trimble (NASDAQ:TRMB - Get Free Report) had its price target lifted by research analysts at Piper Sandler from $73.00 to $84.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the scientific and technical instruments company's stock. Piper Sandler's target price indicates a potential upside of 17.02% from the stock's current price.
A number of other equities analysts have also issued reports on TRMB. JPMorgan Chase & Co. increased their target price on shares of Trimble from $58.00 to $66.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Robert W. Baird upped their price target on Trimble from $65.00 to $66.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Oppenheimer reissued an "outperform" rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. Finally, StockNews.com raised Trimble from a "hold" rating to a "buy" rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Trimble has an average rating of "Moderate Buy" and an average price target of $72.20.
View Our Latest Stock Report on Trimble
Trimble Stock Performance
NASDAQ TRMB traded down $0.86 on Thursday, hitting $71.78. 766,541 shares of the company's stock traded hands, compared to its average volume of 1,343,953. The firm's 50-day moving average price is $59.82 and its two-hundred day moving average price is $57.29. Trimble has a 1-year low of $40.79 and a 1-year high of $73.17. 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 has a market capitalization of $17.53 billion, a PE ratio of 11.78, a P/E/G ratio of 2.75 and a beta of 1.49.
Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping 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 business had revenue of $870.80 million for the quarter, compared to analysts' expectations of $862.50 million. During the same quarter in the prior year, the firm posted $0.51 EPS. The company's revenue was down 12.4% compared to the same quarter last year. As a group, analysts expect that Trimble will post 2.23 EPS for the current year.
Hedge Funds Weigh In On Trimble
Several hedge funds and other institutional investors have recently made changes to their positions in the company. GPS Wealth Strategies Group LLC boosted its stake in shares of 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 acquiring an additional 479 shares during the last quarter. Blue Trust Inc. raised 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 worth $36,000 after acquiring an additional 313 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trimble in the 2nd quarter worth about $48,000. Catalyst Capital Advisors LLC bought a new stake in shares of Trimble during the third quarter valued at about $49,000. Finally, Cromwell Holdings LLC grew its holdings in Trimble by 86.6% during the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company's stock worth $50,000 after acquiring an additional 375 shares during the period. Hedge funds and other institutional investors own 93.21% of the company's stock.
About Trimble
(
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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.
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