Trimble (NASDAQ:TRMB) Rating Reiterated by Oppenheimer

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

TRMB has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Raymond James reiterated an “outperform” rating and set a $65.00 price objective on shares of Trimble in a research note on Wednesday, May 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price objective on shares of Trimble in a report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and an average price target of $66.67.

Trimble Stock Performance

Shares of TRMB traded down $0.65 during midday trading on Wednesday, hitting $50.88. 901,932 shares of the stock traded hands, compared to its average volume of 1,376,792. 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. 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 1-year low of $39.57 and a 1-year high of $65.55. The business’s 50 day moving average price is $55.39 and its two-hundred day moving average price is $57.63.

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

Institutional Investors Weigh In On Trimble

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Trimble by 11.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 18,346 shares of the scientific and technical instruments company’s stock valued at $976,000 after purchasing an additional 1,883 shares during the last quarter. Arizona State Retirement System grew its position in shares of Trimble by 1.0% in the fourth quarter. Arizona State Retirement System now owns 68,249 shares of the scientific and technical instruments company’s stock valued at $3,631,000 after purchasing an additional 659 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Trimble by 181.6% during the fourth quarter. Cerity Partners LLC now owns 12,944 shares of the scientific and technical instruments company’s stock worth $689,000 after buying an additional 8,348 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Trimble in the 4th quarter worth about $117,000. Finally, Louisiana State Employees Retirement System bought a new stake in Trimble in the 4th quarter valued at about $798,000. 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.