Analysts Set Trimble Inc. (NASDAQ:TRMB) Target Price at $65.33

Trimble Inc. (NASDAQ:TRMB) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $66.67.

A number of analysts recently weighed in on TRMB shares. JPMorgan Chase & Co. upped their price target on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Piper Sandler reissued an “overweight” rating and set a $73.00 price target on shares of Trimble in a research report on Monday, August 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. Finally, Robert W. Baird boosted their target price on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th.

Trimble Stock Performance

NASDAQ TRMB opened at $60.20 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. Trimble has a 1-year low of $39.57 and a 1-year high of $65.55. The firm has a market capitalization of $14.70 billion, a P/E ratio of 62.71, a P/E/G ratio of 2.63 and a beta of 1.48. The business’s 50-day simple moving average is $55.24 and its 200-day simple moving average is $57.48.

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

Hedge Funds Weigh In On Trimble

Institutional investors have recently made changes to their positions in the business. Frazier Financial Advisors LLC bought a new stake in shares of Trimble in the fourth quarter worth $26,000. Tobam acquired a new position in Trimble during the 1st quarter worth $35,000. GPS Wealth Strategies Group LLC increased its position in shares of 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 last quarter. Blue Trust Inc. raised its stake in shares of Trimble by 96.0% in the 2nd 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. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Trimble in the second quarter worth about $48,000. 93.21% of the stock is owned by institutional investors and hedge funds.

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.