Oppenheimer Analysts Give Trimble (TRMB) a $50.00 Price Target
Trimble (NASDAQ:TRMB) received a $50.00 price objective from Oppenheimer in a report released on Friday. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Oppenheimer’s price objective indicates a potential upside of 29.94% from the company’s previous close.
TRMB has been the subject of several other research reports. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective (up previously from $42.00) on shares of Trimble in a research note on Sunday, October 29th. Zacks Investment Research raised Trimble from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Tuesday, October 31st. Wells Fargo & Co lifted their price objective on Trimble from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. Finally, BidaskClub lowered Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, December 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $42.10.
Shares of Trimble (NASDAQ TRMB) traded down $0.86 during midday trading on Friday, hitting $38.48. The stock had a trading volume of 259,124 shares, compared to its average volume of 895,015. The stock has a market capitalization of $9,790.00, a PE ratio of 50.74, a PEG ratio of 2.49 and a beta of 2.38. Trimble has a one year low of $30.45 and a one year high of $45.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 1.44.
Trimble announced that its board has initiated a stock buyback plan on Wednesday, November 15th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the scientific and technical instruments company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other Trimble news, SVP Darryl R. Matthews sold 1,605 shares of Trimble stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $39.95, for a total transaction of $64,119.75. Following the completion of the sale, the senior vice president now owns 6,219 shares of the company’s stock, valued at $248,449.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James A. Kirkland sold 25,570 shares of Trimble stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $41.01, for a total value of $1,048,625.70. Following the sale, the vice president now directly owns 50,221 shares of the company’s stock, valued at approximately $2,059,563.21. The disclosure for this sale can be found here. Insiders have sold 48,184 shares of company stock valued at $1,987,455 in the last three months. 1.40% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Toronto Dominion Bank lifted its stake in Trimble by 13.0% during the second quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock worth $111,000 after purchasing an additional 357 shares during the last quarter. Cerebellum GP LLC bought a new stake in Trimble during the fourth quarter worth about $125,000. Advisory Services Network LLC lifted its stake in Trimble by 3,428.1% during the fourth quarter. Advisory Services Network LLC now owns 3,140 shares of the scientific and technical instruments company’s stock worth $128,000 after purchasing an additional 3,051 shares during the last quarter. Fieldpoint Private Securities LLC bought a new stake in Trimble during the third quarter worth about $137,000. Finally, Howe & Rusling Inc. bought a new stake in Trimble during the third quarter worth about $139,000. 90.87% of the stock is 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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