Trimble Inc. (NASDAQ:TRMB) Receives $65.33 Consensus Target Price from Analysts

Trimble Inc. (NASDAQ:TRMB) has been given an average rating of “Moderate Buy” by the six research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $66.67.

Several analysts have recently commented on the stock. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and set a $73.00 target price on shares of Trimble in a report on Monday, August 19th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Robert W. Baird increased their price objective on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday.

Trimble Stock Performance

NASDAQ TRMB opened at $60.20 on Friday. The business has a 50 day moving average price of $55.24 and a 200 day moving average price of $57.48. The company has a market capitalization of $14.70 billion, a P/E ratio of 62.71, a PEG ratio of 2.63 and a beta of 1.48. Trimble has a 1-year low of $39.57 and a 1-year high of $65.55. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The business’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. Sell-side analysts expect that Trimble will post 2.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Trimble

Several institutional investors have recently added to or reduced their stakes in TRMB. Frazier Financial Advisors LLC acquired a new stake in Trimble in the 4th quarter worth about $26,000. Tobam acquired a new stake in shares of Trimble in the first quarter worth approximately $35,000. GPS Wealth Strategies Group LLC boosted its position in shares of Trimble by 303.2% in the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 479 shares during the last quarter. Blue Trust Inc. increased its position in Trimble by 96.0% during the second 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 during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Trimble during the second quarter worth approximately $48,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

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.