Trimble (NASDAQ:TRMB) Receives Outperform Rating from Raymond James

Trimble (NASDAQ:TRMBGet Free Report)‘s stock had its “outperform” rating reaffirmed by investment analysts at Raymond James in a report issued on Wednesday, Benzinga reports. They currently have a $65.00 target price on the scientific and technical instruments company’s stock. Raymond James’ price objective points to a potential upside of 13.46% from the company’s current price.

A number of other research analysts have also commented on the stock. Oppenheimer reiterated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Monday, May 6th. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Robert W. Baird raised their target price on Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Piper Sandler reissued an “overweight” rating and issued a $73.00 price target on shares of Trimble in a report on Monday, May 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $66.67.

View Our Latest Report on TRMB

Trimble Stock Performance

Trimble stock traded up $0.20 during mid-day trading on Wednesday, hitting $57.29. 222,526 shares of the company’s stock traded hands, compared to its average volume of 1,400,329. Trimble has a one year low of $39.57 and a one year high of $65.55. The company has a market cap of $13.99 billion, a PE ratio of 59.63, a price-to-earnings-growth ratio of 2.60 and a beta of 1.51. The firm has a 50 day moving average price of $60.85 and a 200 day moving average price of $54.25. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57.

Trimble (NASDAQ:TRMBGet Free Report) last posted its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. Trimble had a net margin of 6.25% and a return on equity of 12.04%. The business had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities analysts forecast that Trimble will post 2.2 EPS for the current year.

Insider Activity

In other Trimble news, VP Jennifer Allison sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the completion of the transaction, the vice president now directly owns 2,315 shares in the company, valued at $137,927.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Robert G. Painter sold 3,500 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total value of $220,255.00. Following the completion of the sale, the chief executive officer now directly owns 187,055 shares of the company’s stock, valued at $11,771,371.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total transaction of $297,900.00. Following the transaction, the vice president now directly owns 2,315 shares in the company, valued at $137,927.70. The disclosure for this sale can be found here. Insiders sold a total of 14,328 shares of company stock valued at $876,644 over the last three months. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Trimble

A number of institutional investors have recently modified their holdings of the stock. Frazier Financial Advisors LLC bought a new stake in shares of Trimble in the 4th quarter valued at approximately $26,000. Tobam bought a new stake in Trimble in the first quarter worth approximately $35,000. Operose Advisors LLC acquired a new position in shares of Trimble during the 3rd quarter worth $43,000. Principal Securities Inc. bought a new position in shares of Trimble during the 4th quarter valued at $52,000. Finally, Sound Income Strategies LLC boosted its holdings in Trimble by 171.9% in the first quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 631 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

About Trimble

(Get Free Report)

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.

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Analyst Recommendations for Trimble (NASDAQ:TRMB)

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