Trimble (NASDAQ:TRMB) Shares Gap Up – Time to Buy?

Trimble Inc. (NASDAQ:TRMB) shares gapped up prior to trading on Wednesday . The stock had previously closed at $73.95, but opened at $76.89. Trimble shares last traded at $75.04, with a volume of 284,496 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TRMB shares. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $74.00 to $92.00 in a research note on Wednesday. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird lifted their target price on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Piper Sandler increased their target price on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $79.00.

Trimble Stock Performance

The firm has a market capitalization of $18.31 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 3.13 and a beta of 1.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. The stock’s fifty day moving average is $65.65 and its two-hundred day moving average is $59.15.

Institutional Investors Weigh In On Trimble

Institutional investors have recently made changes to their positions in the company. GPS Wealth Strategies Group LLC lifted its position in shares of Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after buying an additional 479 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Trimble by 96.0% during the second 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. TD Private Client Wealth LLC raised its position in shares of Trimble by 722.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 520 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Trimble in the 2nd quarter worth approximately $48,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Trimble in the third quarter valued at $49,000. 93.21% of the stock is currently 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.