Trimble Inc (NASDAQ:TRMB) Short Interest Up 20.9% in December
Trimble Inc (NASDAQ:TRMB) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 3,360,000 shares, a growth of 20.9% from the December 15th total of 2,780,000 shares. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 3.2 days. Approximately 1.4% of the shares of the company are sold short.
TRMB traded down $0.05 during trading hours on Tuesday, hitting $42.72. The stock had a trading volume of 690,074 shares, compared to its average volume of 799,675. The company’s fifty day simple moving average is $41.17 and its 200 day simple moving average is $40.30. Trimble has a 1 year low of $34.89 and a 1 year high of $46.25. The stock has a market cap of $10.66 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 3.05 and a beta of 1.99. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.58.
Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. Trimble had a return on equity of 15.63% and a net margin of 9.97%. The company had revenue of $874.30 million during the quarter, compared to analyst estimates of $807.49 million. During the same quarter last year, the firm posted $0.49 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts expect that Trimble will post 1.68 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in TRMB. CSat Investment Advisory L.P. purchased a new stake in Trimble in the 2nd quarter worth about $26,000. Parallel Advisors LLC increased its holdings in Trimble by 68.3% in the 3rd quarter. Parallel Advisors LLC now owns 806 shares of the scientific and technical instruments company’s stock worth $31,000 after acquiring an additional 327 shares during the last quarter. Usca Ria LLC purchased a new stake in Trimble in the 3rd quarter worth about $39,000. Neo Ivy Capital Management purchased a new stake in Trimble in the 3rd quarter worth about $69,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Trimble during the 3rd quarter valued at about $87,000. 89.05% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on the company. BidaskClub cut Trimble from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. KeyCorp assumed coverage on Trimble in a research note on Thursday, January 9th. They set a “sector weight” rating on the stock. Six investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average target price of $42.33.
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; and integrated workplace management services software.
Recommended Story: Why is the price-sales ratio important?
Receive News & Ratings for Trimble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trimble and related companies with MarketBeat.com's FREE daily email newsletter.