Trimble Inc. (NASDAQ:TRMB) Receives $66.67 Consensus Price Target from Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $66.67.

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

Trimble Stock Performance

TRMB opened at $63.01 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average price is $57.00 and its two-hundred day moving average price is $57.23. The firm has a market capitalization of $15.39 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 2.77 and a beta of 1.49. Trimble has a 12-month low of $39.57 and a 12-month high of $65.55.

Trimble (NASDAQ:TRMB) last announced its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The business had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Trimble’s revenue was down 12.4% compared to the same quarter last year. On average, equities analysts forecast that Trimble will post 2.23 earnings per share for the current year.

Hedge Funds Weigh In On Trimble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning boosted its position in Trimble by 4.0% in the third quarter. Creative Planning now owns 32,827 shares of the scientific and technical instruments company’s stock valued at $2,038,000 after buying an additional 1,277 shares in the last quarter. Procyon Advisors LLC boosted its position in Trimble by 41.9% in the third quarter. Procyon Advisors LLC now owns 9,213 shares of the scientific and technical instruments company’s stock valued at $572,000 after buying an additional 2,722 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its position in Trimble by 34.1% in the third quarter. Compagnie Lombard Odier SCmA now owns 197,134 shares of the scientific and technical instruments company’s stock valued at $12,240,000 after buying an additional 50,154 shares in the last quarter. Sound Income Strategies LLC boosted its position in Trimble by 34.1% in the third quarter. Sound Income Strategies LLC now owns 2,320 shares of the scientific and technical instruments company’s stock valued at $144,000 after buying an additional 590 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in Trimble by 530.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,734 shares of the scientific and technical instruments company’s stock valued at $170,000 after buying an additional 2,300 shares in the last quarter. 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.