BidaskClub Downgrades Trimble (NASDAQ:TRMB) to Hold

BidaskClub lowered shares of Trimble (NASDAQ:TRMB) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

Several other research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Trimble from a buy rating to a hold rating in a report on Thursday, August 1st. Craig Hallum restated a hold rating and set a $35.00 price objective (down previously from $36.00) on shares of Trimble in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and an average target price of $42.33.

Shares of NASDAQ:TRMB traded up $0.50 during midday trading on Wednesday, hitting $39.66. The stock had a trading volume of 680,300 shares, compared to its average volume of 1,112,555. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. Trimble has a fifty-two week low of $29.75 and a fifty-two week high of $46.25. The company’s 50-day moving average price is $39.09 and its 200-day moving average price is $40.54. The company has a market capitalization of $9.76 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 3.12 and a beta of 2.03.

Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. Trimble had a net margin of 9.97% and a return on equity of 15.63%. The company had revenue of $874.30 million for the quarter, compared to the consensus estimate of $807.49 million. During the same quarter in the previous year, the company earned $0.49 EPS. Trimble’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts expect that Trimble will post 1.68 EPS for the current fiscal year.

In other Trimble news, CEO Steven W. Berglund sold 308,575 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $40.18, for a total transaction of $12,398,543.50. Following the transaction, the chief executive officer now owns 640,605 shares in the company, valued at $25,739,508.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Ronald Bisio sold 4,265 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $38.14, for a total transaction of $162,667.10. Following the transaction, the vice president now owns 8,953 shares in the company, valued at approximately $341,467.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 338,135 shares of company stock worth $13,581,720. Corporate insiders own 0.39% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRMB. CSat Investment Advisory L.P. acquired a new position in Trimble during the second quarter worth $26,000. Parallel Advisors LLC raised its holdings in Trimble by 68.3% during the third quarter. Parallel Advisors LLC now owns 806 shares of the scientific and technical instruments company’s stock worth $31,000 after buying an additional 327 shares during the last quarter. Advisory Services Network LLC raised its holdings in Trimble by 347.1% during the second quarter. Advisory Services Network LLC now owns 760 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 590 shares during the last quarter. Usca Ria LLC acquired a new position in Trimble during the third quarter worth $39,000. Finally, FTB Advisors Inc. acquired a new position in Trimble during the second quarter worth $53,000. Hedge funds and other institutional investors own 90.44% 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 operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; and integrated workplace management services software.

Further Reading: Profit Margin

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