Trimble (NASDAQ:TRMB) Downgraded by StockNews.com to “Hold”

Trimble (NASDAQ:TRMB) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also commented on TRMB. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Raymond James reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Trimble in a research note on Wednesday, May 15th. JPMorgan Chase & Co. reduced their price objective on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird upped their price objective on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Trimble presently has a consensus rating of “Moderate Buy” and an average target price of $65.33.

Trimble Trading Up 1.0 %

NASDAQ TRMB traded up $0.55 on Wednesday, hitting $55.49. The company’s stock had a trading volume of 1,325,624 shares, compared to its average volume of 1,359,926. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. Trimble has a 1-year low of $39.57 and a 1-year high of $65.55. The company’s 50-day moving average is $55.16 and its 200 day moving average is $57.83. The firm has a market cap of $13.55 billion, a PE ratio of 57.80, a PEG ratio of 2.55 and a beta of 1.48.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was down 12.4% on a year-over-year basis. As a group, analysts predict that Trimble will post 2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TRMB. Aristides Capital LLC bought a new position in shares of Trimble in the second quarter valued at $219,000. Truist Financial Corp lifted its stake in shares of Trimble by 5.3% in the second quarter. Truist Financial Corp now owns 43,879 shares of the scientific and technical instruments company’s stock valued at $2,454,000 after buying an additional 2,200 shares in the last quarter. Quarry LP lifted its stake in shares of Trimble by 4,988.6% in the second quarter. Quarry LP now owns 2,239 shares of the scientific and technical instruments company’s stock valued at $125,000 after buying an additional 2,195 shares in the last quarter. Creative Planning lifted its stake in shares of Trimble by 2.9% in the second quarter. Creative Planning now owns 31,550 shares of the scientific and technical instruments company’s stock valued at $1,764,000 after buying an additional 904 shares in the last quarter. Finally, Sepio Capital LP lifted its stake in shares of Trimble by 6.6% in the second quarter. Sepio Capital LP now owns 22,696 shares of the scientific and technical instruments company’s stock valued at $1,269,000 after buying an additional 1,410 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.