ValuEngine Downgrades Trimble (TRMB) to Hold

Trimble (NASDAQ:TRMB) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Trimble from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Thursday, July 12th. BidaskClub upgraded Trimble from a “sell” rating to a “hold” rating in a report on Friday, September 14th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Trimble has a consensus rating of “Hold” and an average price target of $42.00.

Shares of NASDAQ:TRMB opened at $38.79 on Thursday. The company has a quick ratio of 1.54, a current ratio of 1.93 and a debt-to-equity ratio of 0.51. Trimble has a 1 year low of $32.01 and a 1 year high of $45.70. The firm has a market cap of $10.86 billion, a P/E ratio of 30.30, a PEG ratio of 2.59 and a beta of 2.42.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.05. Trimble had a return on equity of 15.46% and a net margin of 4.93%. The company had revenue of $785.50 million for the quarter, compared to analyst estimates of $776.31 million. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue was up 19.0% compared to the same quarter last year. Analysts anticipate that Trimble will post 1.62 earnings per share for the current year.

In other news, CFO Robert G. Painter sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $34.33, for a total value of $51,495.00. Following the sale, the chief financial officer now directly owns 13,888 shares of the company’s stock, valued at $476,775.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Sachin Sankpal sold 3,151 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $43.02, for a total value of $135,556.02. Following the completion of the sale, the senior vice president now directly owns 17,997 shares in the company, valued at $774,230.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,251 shares of company stock worth $4,504,418. Corporate insiders own 0.36% of the company’s stock.

Several large investors have recently modified their holdings of TRMB. Whittier Trust Co. acquired a new stake in shares of Trimble in the second quarter valued at about $102,000. Psagot Investment House Ltd. acquired a new stake in Trimble during the second quarter worth about $118,000. Korea Investment CORP acquired a new stake in Trimble during the second quarter worth about $131,000. Summit Trail Advisors LLC grew its position in Trimble by 2,852.1% during the first quarter. Summit Trail Advisors LLC now owns 152,387 shares of the scientific and technical instruments company’s stock worth $152,000 after buying an additional 147,225 shares in the last quarter. Finally, TLP Group LLC grew its position in Trimble by 22,096.2% during the first quarter. TLP Group LLC now owns 5,771 shares of the scientific and technical instruments company’s stock worth $207,000 after buying an additional 5,745 shares in the last quarter. 90.04% 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 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; integrated workplace management services software; capital program and facility management solutions; field based data collection systems; and communication systems and back-office software.

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Analyst Recommendations for Trimble (NASDAQ:TRMB)

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