Trimble (NASDAQ:TRMB) Reaches New 12-Month High – Should You Buy?

by · The Cerbat Gem

Trimble Inc. (NASDAQ:TRMB – Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $74.22 and last traded at $73.95, with a volume of 51825 shares traded. The stock had previously closed at $73.36.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TRMB shares. Piper Sandler lifted their price target on shares of Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Robert W. Baird lifted their price target on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.40.

Get Our Latest Stock Report on TRMB

Trimble Stock Up 0.1 %

The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. The firm’s 50 day moving average price is $60.79 and its two-hundred day moving average price is $57.56. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. GPS Wealth Strategies Group LLC grew its stake in Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 479 shares during the last quarter. Blue Trust Inc. grew its stake in Trimble by 96.0% in the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 313 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Trimble in the 3rd quarter valued at about $49,000. Cromwell Holdings LLC grew its stake in Trimble by 86.6% in the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after buying an additional 375 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Trimble in the 2nd quarter valued at about $48,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

About Trimble

(Get Free Report)

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.

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