BidaskClub cut shares of Trimble (NASDAQ:TRMB) from a hold rating to a sell rating in a research report released on Saturday morning.
Several other brokerages also recently commented on TRMB. Oppenheimer reissued a buy rating and issued a $50.00 target price (up from $45.00) on shares of Trimble in a report on Wednesday, January 31st. Needham & Company LLC reissued a buy rating and issued a $45.00 target price (up from $42.00) on shares of Trimble in a report on Sunday, October 29th. Wells Fargo & Co boosted their target price on Trimble from $34.00 to $37.00 and gave the stock a market perform rating in a report on Friday, October 27th. Zacks Investment Research downgraded Trimble from a buy rating to a hold rating in a report on Wednesday, November 1st. Finally, TheStreet downgraded Trimble from a b rating to a c+ rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Trimble has an average rating of Hold and an average target price of $42.10.
Trimble (TRMB) traded up $0.49 during midday trading on Friday, reaching $38.67. The company’s stock had a trading volume of 1,126,497 shares, compared to its average volume of 1,278,821. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $9,624.85, a P/E ratio of 82.28, a price-to-earnings-growth ratio of 2.30 and a beta of 2.38. Trimble has a 12 month low of $30.45 and a 12 month high of $45.70.
Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Thursday, February 8th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $708.40 million for the quarter, compared to the consensus estimate of $674.84 million. Trimble had a return on equity of 13.37% and a net margin of 4.56%. The company’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. equities analysts expect that Trimble will post 1.5 EPS for the current year.
Trimble declared that its Board of Directors has approved a stock repurchase program on Wednesday, November 15th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Trimble news, VP Jurgen Kliem sold 995 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $42.50, for a total transaction of $42,287.50. Following the transaction, the vice president now owns 18,175 shares of the company’s stock, valued at approximately $772,437.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Steven W. Berglund sold 200,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $39.25, for a total value of $7,850,000.00. The disclosure for this sale can be found here. Insiders sold a total of 422,941 shares of company stock worth $16,696,928 over the last three months. 1.40% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Toronto Dominion Bank lifted its holdings in Trimble by 13.0% during the 2nd quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock worth $111,000 after buying an additional 357 shares in the last quarter. Cerebellum GP LLC acquired a new position in Trimble during the 4th quarter worth $125,000. Advisory Services Network LLC lifted its holdings in Trimble by 3,428.1% during the 4th quarter. Advisory Services Network LLC now owns 3,140 shares of the scientific and technical instruments company’s stock worth $128,000 after buying an additional 3,051 shares in the last quarter. Delpha Capital Management LLC acquired a new position in Trimble during the 4th quarter worth $134,000. Finally, Fieldpoint Private Securities LLC acquired a new position in Trimble during the 3rd quarter worth $137,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.
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Trimble Company Profile
Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.
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