Trimble (NASDAQ:TRMB) Price Target Raised to $84.00 at Piper Sandler

Trimble (NASDAQ:TRMB) had its target price hoisted by equities research analysts at Piper Sandler from $73.00 to $84.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the scientific and technical instruments company’s stock. Piper Sandler’s target price indicates a potential upside of 15.64% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Robert W. Baird boosted their price target on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.60.

Trimble Stock Performance

Trimble stock opened at $72.64 on Thursday. The firm’s 50 day simple moving average is $59.82 and its 200 day simple moving average is $57.29. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $17.74 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 2.75 and a beta of 1.49. Trimble has a 1-year low of $40.79 and a 1-year high of $73.17.

Trimble (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping 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 business had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. During the same quarter in the prior year, the firm posted $0.51 EPS. Trimble’s revenue was down 12.4% on a year-over-year basis. As a group, analysts expect that Trimble will post 2.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trimble

A number of institutional investors have recently made changes to their positions in TRMB. GPS Wealth Strategies Group LLC raised its holdings in Trimble by 303.2% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 479 shares during the last quarter. Blue Trust Inc. raised its holdings in Trimble by 96.0% during the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 313 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Trimble during the 2nd quarter valued at $48,000. Catalyst Capital Advisors LLC bought a new stake in Trimble during the 3rd quarter valued at $49,000. Finally, Cromwell Holdings LLC raised its holdings in 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 buying an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 93.21% 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'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.