Trimble (NASDAQ:TRMB) Price Target Raised to $66.00

Trimble (NASDAQ:TRMB) had its price target boosted by JPMorgan Chase & Co. from $58.00 to $66.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the scientific and technical instruments company’s stock.

A number of other brokerages have also commented on TRMB. Piper Sandler reiterated an overweight rating and issued a $73.00 target price on shares of Trimble in a research report on Monday, August 19th. Oppenheimer reissued an outperform rating and set a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. StockNews.com raised shares of Trimble from a hold rating to a buy rating in a report on Thursday, September 12th. Finally, Robert W. Baird lifted 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Trimble currently has a consensus rating of Moderate Buy and an average target price of $66.67.

Trimble Trading Down 2.7 %

NASDAQ:TRMB opened at $58.57 on Thursday. The company has a market capitalization of $14.30 billion, a P/E ratio of 61.01, a PEG ratio of 2.63 and a beta of 1.48. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. Trimble has a 12 month low of $39.57 and a 12 month high of $65.55. The firm has a fifty day simple moving average of $55.34 and a 200-day simple moving average of $57.41.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. On average, equities research analysts anticipate that Trimble will post 2.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRMB. Frazier Financial Advisors LLC acquired a new stake in shares of Trimble during the 4th quarter valued at about $26,000. Tobam acquired a new stake in Trimble in the first quarter valued at approximately $35,000. GPS Wealth Strategies Group LLC increased 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 valued at $36,000 after buying an additional 479 shares in the last quarter. Blue Trust Inc. raised 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 period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Trimble during the 2nd quarter valued at approximately $48,000. 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.