Trimble (NASDAQ:TRMB) Reaches New 12-Month High – What’s Next?

by · The Cerbat Gem

Trimble Inc. (NASDAQ:TRMB – Get Free Report) shares reached a new 52-week high on Wednesday . The company 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 Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler increased their price target on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird lifted their target price on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and an average target price of $72.20.

Check Out Our Latest Research Report on Trimble

Trimble Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $60.14 and a 200 day moving average of $57.39. The company has a market capitalization of $17.62 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49.

Trimble (NASDAQ:TRMB – Get Free Report) last posted its 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. The firm had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. Trimble had a net margin of 40.67% and a return on equity of 10.18%. Trimble’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. On average, sell-side analysts predict that Trimble Inc. will post 2.25 earnings per share for the current year.

Institutional Trading of Trimble

Large investors have recently made changes to their positions in the business. GPS Wealth Strategies Group LLC grew its position in 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 worth $36,000 after acquiring an additional 479 shares in the last quarter. Blue Trust Inc. lifted 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 during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Trimble in the 3rd quarter worth approximately $49,000. Cromwell Holdings LLC increased its position in shares of Trimble by 86.6% during the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 375 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Trimble during the 2nd quarter valued at $48,000. 93.21% of the stock is currently owned by institutional investors.

Trimble Company Profile

(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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