StockNews.com Lowers Trimble (NASDAQ:TRMB) to Hold

StockNews.com cut shares of Trimble (NASDAQ:TRMB) from a buy rating to a hold rating in a research report released on Thursday.

TRMB has been the subject of several other research reports. JPMorgan Chase & Co. increased their price target 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. Oppenheimer reissued an “outperform” rating and set a $72.00 target price on shares of Trimble in a research report on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price target on shares of Trimble in a report on Monday, August 19th. Finally, Robert W. Baird increased their price objective on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Trimble presently has an average rating of “Moderate Buy” and an average price target of $66.67.

Trimble Price Performance

Trimble stock opened at $60.56 on Thursday. Trimble has a 52 week low of $39.57 and a 52 week high of $65.55. The company’s 50 day moving average price is $58.68 and its two-hundred day moving average price is $57.17. The stock has a market cap of $14.79 billion, a P/E ratio of 9.90, a P/E/G ratio of 2.70 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last issued its quarterly 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. The business had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. Trimble’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. On average, equities analysts predict that Trimble will post 2.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tobam purchased a new stake in shares of Trimble during the first quarter worth $35,000. GPS Wealth Strategies Group LLC raised its stake in shares of Trimble by 303.2% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 479 shares during the period. Blue Trust Inc. lifted its holdings in Trimble by 96.0% during the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 313 shares in the last quarter. Cromwell Holdings LLC boosted its stake in Trimble by 86.6% in the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 375 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Trimble during the 2nd quarter valued at about $48,000. 93.21% of the stock is owned by 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.