StockNews.com Upgrades Trimble (NASDAQ:TRMB) to "Buy"

Trimble (NASDAQ:TRMB - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Thursday.

Several other equities analysts have also weighed in on the stock. Robert W. Baird boosted their target price on shares of Trimble from $82.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday. Piper Sandler reiterated an "overweight" rating and set a $84.00 price target on shares of Trimble in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of Trimble from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Oppenheimer increased their target price on shares of Trimble from $77.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Sanford C. Bernstein boosted their price target on shares of Trimble from $82.00 to $85.00 and gave the company an "outperform" rating in a research note on Wednesday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Trimble presently has a consensus rating of "Buy" and a consensus price target of $84.00.

Trimble Price Performance

NASDAQ TRMB traded up $0.91 during trading hours on Thursday, hitting $74.87. 1,856,237 shares of the company's stock traded hands, compared to its average volume of 1,345,646. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. The firm's 50-day moving average is $67.29 and its 200-day moving average is $59.87. Trimble has a 52-week low of $47.20 and a 52-week high of $76.97. The company has a market capitalization of $18.28 billion, a PE ratio of 12.37, a PEG ratio of 3.20 and a beta of 1.53.

Institutional Investors Weigh In On Trimble

Institutional investors have recently added to or reduced their stakes in the business. Peapack Gladstone Financial Corp boosted its stake in Trimble by 6.8% in the third quarter. Peapack Gladstone Financial Corp now owns 4,270 shares of the scientific and technical instruments company's stock valued at $265,000 after acquiring an additional 270 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trimble in the 3rd quarter valued at about $691,000. Sanctuary Advisors LLC grew its stake in Trimble by 85.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 12,888 shares of the scientific and technical instruments company's stock worth $800,000 after buying an additional 5,922 shares during the last quarter. TD Private Client Wealth LLC increased its position in Trimble by 722.2% during the third quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 520 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Trimble by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company's stock valued at $364,984,000 after buying an additional 39,069 shares during the last quarter. 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.