Trimble (NASDAQ:TRMB) Upgraded by BidaskClub to Buy

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BidaskClub upgraded shares of Trimble (NASDAQ:TRMB) from a hold rating to a buy rating in a research report sent to investors on Thursday, BidAskClub reports.

Several other research analysts have also recently issued reports on TRMB. William Blair reaffirmed an outperform rating on shares of Trimble in a research report on Thursday, February 13th. KeyCorp initiated coverage on Trimble in a research report on Thursday, January 9th. They set a sector weight rating on the stock. Zacks Investment Research cut Trimble from a buy rating to a hold rating and set a $46.00 target price on the stock. in a research report on Wednesday, January 22nd. Northcoast Research reaffirmed a neutral rating on shares of Trimble in a research report on Tuesday. Finally, Oppenheimer lifted their target price on Trimble from $46.00 to $50.00 and gave the company an outperform rating in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $44.25.

Shares of NASDAQ:TRMB traded down $0.74 during mid-day trading on Thursday, hitting $45.39. 805,299 shares of the company traded hands, compared to its average volume of 955,329. The stock has a market cap of $11.45 billion, a P/E ratio of 22.25, a P/E/G ratio of 3.40 and a beta of 1.97. The company has a current ratio of 1.02, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. Trimble has a 12-month low of $35.86 and a 12-month high of $46.67. The stock has a 50-day moving average price of $43.53 and a two-hundred day moving average price of $40.25.

Trimble (NASDAQ:TRMB) last announced its earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.06. The company had revenue of $826.70 million for the quarter, compared to analysts’ expectations of $784.13 million. Trimble had a return on equity of 15.47% and a net margin of 15.76%. Trimble’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 earnings per share. As a group, analysts expect that Trimble will post 1.81 earnings per share for the current year.

In related news, VP Julie A. Shepard sold 15,838 shares of Trimble stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $45.90, for a total transaction of $726,964.20. Following the sale, the vice president now directly owns 29,211 shares in the company, valued at $1,340,784.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Darryl R. Matthews sold 5,362 shares of Trimble stock in a transaction on Monday, November 25th. The stock was sold at an average price of $40.01, for a total value of $214,533.62. Following the sale, the senior vice president now owns 23,933 shares in the company, valued at $957,559.33. The disclosure for this sale can be found here. Insiders have sold 95,057 shares of company stock worth $4,256,085 over the last quarter. 0.39% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. grew its position in Trimble by 4.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 6,250 shares of the scientific and technical instruments company’s stock worth $260,000 after buying an additional 250 shares in the last quarter. Wendell David Associates Inc. grew its position in Trimble by 2.2% during the fourth quarter. Wendell David Associates Inc. now owns 14,135 shares of the scientific and technical instruments company’s stock worth $589,000 after buying an additional 300 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Trimble by 5.0% during the fourth quarter. Integrated Wealth Concepts LLC now owns 6,475 shares of the scientific and technical instruments company’s stock worth $270,000 after buying an additional 310 shares in the last quarter. Parallel Advisors LLC grew its position in Trimble by 40.1% during the fourth quarter. Parallel Advisors LLC now owns 1,129 shares of the scientific and technical instruments company’s stock worth $47,000 after buying an additional 323 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its position in Trimble by 1.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 21,550 shares of the scientific and technical instruments company’s stock worth $898,000 after buying an additional 344 shares in the last quarter. Institutional investors and hedge funds own 90.89% 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 operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; and integrated workplace management services software.

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Analyst Recommendations for Trimble (NASDAQ:TRMB)

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