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Sanford C. Bernstein Initiates Coverage on Trimble (NASDAQ:TRMB)

Last updated on Tuesday, September 22, 2020 | 2020 MarketBeat

Stock analysts at Sanford C. Bernstein began coverage on shares of Trimble (NASDAQ:TRMB) in a research report issued on Tuesday, The Fly reports. The brokerage set an "outperform" rating on the scientific and technical instruments company's stock.

A number of other research firms have also issued reports on TRMB. Morgan Stanley increased their target price on Trimble from $30.00 to $46.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. BidaskClub upgraded Trimble from a "buy" rating to a "strong-buy" rating in a report on Wednesday, September 16th. Needham & Company LLC increased their target price on Trimble from $42.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Craig Hallum increased their target price on Trimble from $38.00 to $44.00 and gave the company a "hold" rating in a report on Thursday, August 6th. Finally, Oppenheimer restated a "buy" rating and issued a $53.00 target price on shares of Trimble in a report on Thursday, August 6th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of "Buy" and a consensus target price of $47.11.

Shares of NASDAQ:TRMB traded up $0.75 on Tuesday, reaching $48.55. 851,229 shares of the company traded hands, compared to its average volume of 1,338,174. Trimble has a fifty-two week low of $20.01 and a fifty-two week high of $54.51. The company's 50 day moving average is $50.20 and its 200-day moving average is $40.71. The stock has a market capitalization of $12.15 billion, a PE ratio of 25.29, a P/E/G ratio of 3.95 and a beta of 1.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.96 and a quick ratio of 0.67.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Wednesday, August 5th. The scientific and technical instruments company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.14. Trimble had a return on equity of 14.69% and a net margin of 15.39%. The company had revenue of $733.60 million during the quarter, compared to the consensus estimate of $694.58 million. As a group, analysts expect that Trimble will post 1.69 EPS for the current year.

In other Trimble news, Director Mark S. Peek sold 25,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $50.14, for a total transaction of $1,253,500.00. Following the transaction, the director now directly owns 87,251 shares of the company's stock, valued at $4,374,765.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald S. Nersesian sold 30,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $49.03, for a total transaction of $1,470,900.00. Following the transaction, the director now directly owns 9,006 shares in the company, valued at $441,564.18. The disclosure for this sale can be found here. Insiders sold 89,972 shares of company stock worth $4,493,892 over the last ninety days. 0.66% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Ameritas Investment Company LLC acquired a new position in Trimble during the first quarter worth $25,000. CWM Advisors LLC acquired a new position in Trimble during the first quarter worth $32,000. Fifth Third Bancorp increased its position in Trimble by 126.7% during the second quarter. Fifth Third Bancorp now owns 882 shares of the scientific and technical instruments company's stock worth $38,000 after buying an additional 493 shares during the last quarter. Smithfield Trust Co. increased its position in Trimble by 44.0% during the second quarter. Smithfield Trust Co. now owns 1,440 shares of the scientific and technical instruments company's stock worth $62,000 after buying an additional 440 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Trimble in the second quarter valued at about $73,000. 91.44% of the stock is currently owned by hedge funds and other 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; and integrated workplace management services software.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

The Fly

Analyst Recommendations for Trimble (NASDAQ:TRMB)

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