Trimble Inc. (NASDAQ:TRMB) Given Average Rating of “Moderate Buy” by Analysts

Trimble Inc. (NASDAQ:TRMB) has been given an average rating of “Moderate Buy” by the five analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $68.40.

TRMB has been the topic of several analyst reports. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Oppenheimer reissued an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Piper Sandler reissued an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. JPMorgan Chase & Co. boosted their price objective on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Robert W. Baird upped their target price on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in Trimble by 1,387.6% during the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after buying an additional 3,589,249 shares during the period. AQR Capital Management LLC lifted its holdings in Trimble by 2,035.1% during the second quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock worth $63,635,000 after buying an additional 1,093,275 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Trimble by 25.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after purchasing an additional 516,789 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Trimble by 18.7% during the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after purchasing an additional 434,065 shares during the last quarter. Finally, Capital Group Private Client Services Inc. lifted its holdings in shares of Trimble by 77.8% during the 1st quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock valued at $57,383,000 after purchasing an additional 390,171 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Price Performance

NASDAQ:TRMB opened at $72.64 on Friday. 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 company has a market capitalization of $17.74 billion, a P/E ratio of 11.49, a P/E/G ratio of 2.75 and a beta of 1.49. Trimble has a 12 month low of $40.79 and a 12 month high of $73.17. The business’s 50-day moving average is $59.49 and its 200 day moving average is $57.18.

Trimble (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS 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 company had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. During the same period in the previous year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities research analysts forecast that Trimble will post 2.23 earnings per share for the current fiscal year.

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.