Trimble (NASDAQ:TRMB) Rating Reiterated by Oppenheimer

Trimble (NASDAQ:TRMB)‘s stock had its “outperform” rating reiterated by equities research analysts at Oppenheimer in a report released on Wednesday, Benzinga reports. They presently have a $72.00 price target on the scientific and technical instruments company’s stock. Oppenheimer’s price target points to a potential upside of 41.51% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price target on shares of Trimble in a research report on Monday, May 6th. JPMorgan Chase & Co. increased their price target on Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Raymond James reissued an “outperform” rating and set a $65.00 price target on shares of Trimble in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.67.

Trimble Stock Performance

NASDAQ:TRMB traded down $0.65 during mid-day trading on Wednesday, reaching $50.88. 901,932 shares of the company’s stock were exchanged, compared to its average volume of 1,376,792. The business’s fifty day simple moving average is $55.39 and its two-hundred day simple moving average is $57.63. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.00. Trimble has a one year low of $39.57 and a one year high of $65.55. The firm has a market capitalization of $12.43 billion, a PE ratio of 53.40, a price-to-earnings-growth ratio of 2.31 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. Trimble had a net margin of 6.25% and a return on equity of 12.04%. Trimble’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. Analysts anticipate that Trimble will post 2.21 earnings per share for the current fiscal year.

Institutional Trading of Trimble

A number of hedge funds have recently made changes to their positions in TRMB. First Horizon Advisors Inc. raised its holdings in Trimble by 18.3% during the 4th quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock worth $68,000 after buying an additional 196 shares during the period. Fulton Bank N.A. raised its stake in shares of Trimble by 2.6% in the first quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock valued at $497,000 after purchasing an additional 199 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Trimble by 6.8% in the fourth quarter. First Eagle Investment Management LLC now owns 3,145 shares of the scientific and technical instruments company’s stock valued at $167,000 after purchasing an additional 200 shares in the last quarter. Czech National Bank grew its position in Trimble by 0.5% in the first quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock valued at $2,817,000 after acquiring an additional 201 shares during the period. Finally, SVB Wealth LLC grew its position in Trimble by 4.8% in the first quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock valued at $286,000 after acquiring an additional 204 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

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.