Trimble’s (TRMB) “Outperform” Rating Reiterated at Oppenheimer

Trimble (NASDAQ:TRMB)‘s stock had its “outperform” rating reaffirmed by analysts at Oppenheimer in a report released on Monday, Benzinga reports. They currently have a $72.00 price objective on the scientific and technical instruments company’s stock. Oppenheimer’s price objective would indicate a potential upside of 28.73% from the stock’s current price.

A number of other brokerages also recently commented on TRMB. Robert W. Baird increased their price target on Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. increased their target price on Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $73.00 target price on shares of Trimble in a report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Price Performance

Shares of NASDAQ TRMB opened at $55.93 on Monday. Trimble has a 1-year low of $39.57 and a 1-year high of $65.55. The business has a 50-day moving average of $61.55 and a 200-day moving average of $53.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.88. The company has a market capitalization of $13.66 billion, a price-to-earnings ratio of 58.26, a PEG ratio of 2.51 and a beta of 1.51.

Trimble (NASDAQ:TRMB) last issued its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. Trimble had a return on equity of 12.04% and a net margin of 6.25%. The company had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that Trimble will post 2.23 EPS for the current fiscal year.

Insider Transactions at Trimble

In related news, VP Jennifer Allison sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now directly owns 2,315 shares in the company, valued at approximately $137,927.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Jennifer Allison sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now directly owns 2,315 shares in the company, valued at approximately $137,927.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total value of $220,255.00. Following the completion of the sale, the chief executive officer now owns 187,055 shares in the company, valued at $11,771,371.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,828 shares of company stock worth $1,013,519. 0.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trimble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new stake in shares of Trimble during the 4th quarter worth $26,000. Tobam bought a new stake in shares of Trimble during the 1st quarter worth $35,000. Operose Advisors LLC bought a new stake in shares of Trimble during the 3rd quarter worth $43,000. Principal Securities Inc. bought a new stake in shares of Trimble during the 4th quarter worth $52,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Trimble by 171.9% during the 1st quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock worth $64,000 after acquiring an additional 631 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

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'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.