BidaskClub Upgrades Trimble (NASDAQ:TRMB) to “Buy”

BidaskClub upgraded shares of Trimble (NASDAQ:TRMB) from a hold rating to a buy rating in a research note published on Saturday morning, BidAskClub reports.

A number of other research firms also recently issued reports on TRMB. Goldman Sachs Group lowered their target price on shares of Trimble from $53.00 to $35.00 and set a buy rating for the company in a report on Thursday, March 19th. Robert W. Baird boosted their price objective on shares of Trimble from $31.00 to $39.00 and gave the stock an outperform rating in a research note on Thursday, May 7th. Needham & Company LLC boosted their price objective on shares of Trimble from $34.00 to $42.00 and gave the stock a buy rating in a research note on Monday, May 11th. Morgan Stanley boosted their price objective on shares of Trimble from $28.00 to $30.00 and gave the stock an equal weight rating in a research note on Thursday, May 7th. Finally, TheStreet upgraded shares of Trimble from a c+ rating to a b- rating in a research note on Wednesday, June 10th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Trimble currently has an average rating of Hold and a consensus target price of $39.88.

Trimble stock opened at $42.64 on Friday. Trimble has a 1 year low of $20.01 and a 1 year high of $46.67. The firm has a 50 day moving average price of $40.90 and a 200 day moving average price of $38.71. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.74 and a beta of 1.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.97.

Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. Trimble had a net margin of 15.79% and a return on equity of 15.44%. The firm had revenue of $794.00 million during the quarter, compared to the consensus estimate of $773.19 million. During the same period in the previous year, the firm earned $0.45 earnings per share. Trimble’s revenue was down 1.3% compared to the same quarter last year. Sell-side analysts predict that Trimble will post 1.51 EPS for the current year.

In related news, CEO Robert G. Painter sold 12,615 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $39.45, for a total value of $497,661.75. Following the sale, the chief executive officer now directly owns 83,045 shares of the company’s stock, valued at $3,276,125.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kaigham Gabriel sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $43.99, for a total transaction of $109,975.00. Following the completion of the sale, the director now directly owns 12,856 shares in the company, valued at $565,535.44. The disclosure for this sale can be found here. Insiders sold 20,650 shares of company stock valued at $843,372 over the last 90 days. Insiders own 0.66% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Archer Investment Corp acquired a new stake in Trimble in the fourth quarter valued at $33,000. Ameritas Investment Company LLC acquired a new stake in shares of Trimble during the first quarter worth $25,000. CWM Advisors LLC acquired a new stake in shares of Trimble during the first quarter worth $32,000. Signaturefd LLC raised its holdings in shares of Trimble by 54.3% during the first quarter. Signaturefd LLC now owns 1,048 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 369 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Trimble during the fourth quarter worth $50,000. 91.09% of the stock is currently owned by hedge funds and other institutional investors.

About Trimble

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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