Robert W. Baird Issues Positive Forecast for Trimble (NASDAQ:TRMB) Stock Price

Trimble (NASDAQ:TRMB) had its price objective raised by Robert W. Baird from $66.00 to $82.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the scientific and technical instruments company’s stock.

Several other research analysts also recently issued reports on the company. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Piper Sandler upped their price objective on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday. Oppenheimer restated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.40.

Trimble Price Performance

Shares of TRMB traded up $0.51 on Friday, hitting $72.65. The company’s stock had a trading volume of 1,395,675 shares, compared to its average volume of 1,348,584. The company has a market capitalization of $17.74 billion, a PE ratio of 12.15, a PEG ratio of 3.23 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 0.88. Trimble has a fifty-two week low of $40.79 and a fifty-two week high of $73.17. The company has a 50 day moving average price of $60.46 and a 200 day moving average price of $57.49.

Trimble (NASDAQ:TRMB) last announced its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. Trimble had a return on equity of 10.18% and a net margin of 40.67%. Trimble’s revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. On average, research analysts anticipate that Trimble will post 2.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trimble

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC boosted its stake in Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 479 shares during the period. Blue Trust Inc. boosted its stake in shares of 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 buying an additional 313 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Trimble during the 3rd quarter worth about $49,000. Cromwell Holdings LLC boosted its stake in shares of Trimble by 86.6% during the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock worth $50,000 after buying an additional 375 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Trimble during the 2nd quarter worth about $48,000. 93.21% of the stock is owned by institutional investors and hedge funds.

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.