Oppenheimer Issues Positive Forecast for Trimble (NASDAQ:TRMB) Stock Price

Trimble (NASDAQ:TRMB - Get Free Report) had its price target upped by Oppenheimer from $88.00 to $90.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the scientific and technical instruments company's stock. Oppenheimer's target price suggests a potential upside of 25.93% from the company's current price.

A number of other equities analysts have also recently weighed in on TRMB. Wolfe Research raised shares of Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price objective for the company in a research report on Monday, December 16th. Robert W. Baird increased their price objective 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. Cfra raised shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective for the company in a research report on Thursday. Sanford C. Bernstein increased their price objective on shares of Trimble from $82.00 to $85.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Finally, StockNews.com raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Thursday, December 12th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $86.00.

Trimble Trading Down 2.4 %

Shares of NASDAQ TRMB traded down $1.74 during midday trading on Thursday, reaching $71.47. 1,852,430 shares of the stock were exchanged, compared to its average volume of 1,347,057. The company has a 50 day simple moving average of $73.30 and a 200 day simple moving average of $66.28. The stock has a market capitalization of $17.57 billion, a P/E ratio of 11.74, a PEG ratio of 3.17 and a beta of 1.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble has a twelve month low of $48.65 and a twelve month high of $77.78.

Insider Buying and Selling at Trimble

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the transaction, the vice president now owns 3,157 shares of the company's stock, valued at $235,985.75. This trade represents a 53.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trimble

Institutional investors have recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in shares of Trimble during the 4th quarter worth $28,000. Rialto Wealth Management LLC acquired a new stake in Trimble during the 4th quarter worth $35,000. SBI Securities Co. Ltd. acquired a new stake in Trimble during the 4th quarter worth $36,000. TD Private Client Wealth LLC raised its stake in Trimble by 722.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 520 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in Trimble by 164.8% during the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock worth $48,000 after acquiring an additional 422 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

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.