Trimble Inc. (NASDAQ:TRMB) Receives Average Rating of “Buy” from Analysts

Trimble Inc. (NASDAQ:TRMB) has earned a consensus rating of “Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have covered the stock in the last year is $84.86.

A number of equities analysts have issued reports on TRMB shares. Robert W. Baird increased their price target on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Sanford C. Bernstein increased their target price on shares of Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Finally, Piper Sandler restated an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research note on Wednesday, December 11th.

Trimble Stock Up 1.6 %

Shares of Trimble stock opened at $72.72 on Thursday. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 3.15 and a beta of 1.52. The stock’s 50-day moving average is $72.18 and its 200 day moving average is $62.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. Trimble has a one year low of $48.60 and a one year high of $76.97.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new stake in shares of Trimble in the 2nd quarter worth about $261,000. American Century Companies Inc. raised its stake 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 lifted its holdings in shares of 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 holdings in shares of Trimble by 6.5% in 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 in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in Trimble during the second quarter worth $52,000. 93.21% of the stock is owned by institutional investors.

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.