Trimble (NASDAQ:TRMB) Hits New 12-Month High – Time to Buy?

Shares of Trimble Inc. (NASDAQ:TRMB) hit a new 52-week high on Wednesday . The stock traded as high as $68.59 and last traded at $67.79, with a volume of 31311 shares trading hands. The stock had previously closed at $61.62.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their target price on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 target price on shares of Trimble in a research note on Monday, August 19th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. Finally, Robert W. Baird raised their target price on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $68.40.

Trimble Stock Up 15.1 %

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 has a 50 day simple moving average of $59.49 and a 200 day simple moving average of $57.18. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 2.75 and a beta of 1.49.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The firm had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. During the same quarter last year, the firm posted $0.51 earnings per share. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, analysts expect that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GPS Wealth Strategies Group LLC lifted its holdings 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 purchasing an additional 479 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Trimble by 96.0% in the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 313 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Trimble during the third quarter worth $49,000. Cromwell Holdings LLC lifted its holdings in Trimble by 86.6% during the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock worth $50,000 after acquiring an additional 375 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Trimble during the second quarter worth $48,000. 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.