Trimble Inc. (NASDAQ:TRMB) Receives $88.43 Consensus Price Target from Analysts

Trimble Inc. (NASDAQ:TRMB) has received an average rating of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $88.43.

A number of research firms have issued reports on TRMB. JPMorgan Chase & Co. lifted their target price on shares of Trimble from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, May 14th. Piper Sandler reissued an “overweight” rating and issued a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. Oppenheimer boosted their target price on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a research report on Thursday, February 20th. Finally, Wall Street Zen lowered shares of Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th.

Trimble Trading Down 0.3%

Shares of NASDAQ:TRMB opened at $70.55 on Wednesday. The company has a market cap of $16.83 billion, a PE ratio of 11.58, a P/E/G ratio of 3.09 and a beta of 1.67. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $64.46 and its 200 day moving average price is $69.68. Trimble has a fifty-two week low of $48.65 and a fifty-two week high of $77.78.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The company had revenue of $840.60 million for the quarter, compared to analysts’ expectations of $810.45 million. During the same quarter in the previous year, the company posted $0.64 EPS. The business’s revenue was down 11.8% compared to the same quarter last year. Sell-side analysts anticipate that Trimble will post 2.37 earnings per share for the current year.

Insider Activity

In related news, Director James Calvin Dalton sold 2,141 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the transaction, the director now owns 10,162 shares in the company, valued at $729,529.98. This represents a 17.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,361 shares of company stock worth $1,031,524. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRMB. Crowley Wealth Management Inc. bought a new stake in Trimble during the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new stake in Trimble during the 4th quarter worth about $35,000. SBI Securities Co. Ltd. bought a new stake in Trimble during the 4th quarter worth about $36,000. Central Pacific Bank Trust Division raised its holdings in Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 355 shares during the last quarter. Finally, Flaharty Asset Management LLC bought a new stake in Trimble during the 1st quarter worth about $45,000. Institutional investors and hedge funds 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.