Piper Sandler Forecasts Strong Price Appreciation for Trimble (NASDAQ:TRMB) Stock

Trimble (NASDAQ:TRMB) had its price target increased by Piper Sandler from $73.00 to $84.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the scientific and technical instruments company’s stock. Piper Sandler’s target price would indicate a potential upside of 15.62% from the stock’s current price.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their price target on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Oppenheimer reiterated an “outperform” rating and set a $72.00 target price on shares of Trimble in a research report on Wednesday, August 7th. Robert W. Baird boosted their target price on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and a consensus target price of $75.40.

Trimble Stock Up 0.7 %

Shares of NASDAQ TRMB traded up $0.51 during mid-day trading on Thursday, hitting $72.65. The company 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 price-to-earnings-growth 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 1-year low of $40.79 and a 1-year high of $73.17. The business’s 50-day simple moving average is $60.46 and its 200 day simple moving average is $57.49.

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

Hedge Funds Weigh In On Trimble

A number of large investors have recently bought and sold shares of the business. Intech Investment Management LLC lifted its holdings in Trimble by 10.2% in the third quarter. Intech Investment Management LLC now owns 5,298 shares of the scientific and technical instruments company’s stock worth $329,000 after acquiring an additional 489 shares during the last quarter. Grandfield & Dodd LLC increased its stake in shares of Trimble by 0.8% in the third quarter. Grandfield & Dodd LLC now owns 396,762 shares of the scientific and technical instruments company’s stock valued at $24,635,000 after purchasing an additional 3,105 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of Trimble in the third quarter valued at approximately $194,000. PNC Financial Services Group Inc. increased its stake in shares of Trimble by 21.0% in the third quarter. PNC Financial Services Group Inc. now owns 32,631 shares of the scientific and technical instruments company’s stock valued at $2,026,000 after purchasing an additional 5,660 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Trimble in the third quarter valued at approximately $1,963,000. Institutional investors own 93.21% of the company’s stock.

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.