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Trimble Navigation Limited (NASDAQ:TRMB)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Wednesday. They currently have a $33.00 target price on the stock. Zacks‘s price objective suggests a potential upside of 5.67% from the company’s current price.

Zacks’ analyst wrote, “Trimble is an OEM of GPS-based products and control systems. Second quarter results beat the Zacks Consensus Estimate, driven by broad-based growth in the majority of Trimble’s businesses. While government sequestration concerns remain, improving trends in the domestic construction market, increasing adoption of technology in the agricultural market and well-planned acquisitions in the TMS segment remain secular drivers. Product enhancements and introductions, a re-aligned cost structure, improving mix of software and services revenue, and international expansion are other positives. We have a Neutral recommendation on Trimble shares.”

Several other analysts have also recently commented on the stock. Analysts at MKM Partners cut their price target on shares of Trimble Navigation Limited from $40.00 to $39.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Analysts at Ned Davis Research upgraded shares of Trimble Navigation Limited from a “sell” rating to a “neutral” rating in a research note on Monday, May 12th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $41.83.

Trimble Navigation Limited (NASDAQ:TRMB) traded up 3.63% on Wednesday, hitting $32.365. 1,437,252 shares of the company’s stock traded hands. Trimble Navigation Limited has a one year low of $24.90 and a one year high of $40.17. The stock has a 50-day moving average of $33.82 and a 200-day moving average of $36.13. The company has a market cap of $8.443 billion and a P/E ratio of 34.32.

Trimble Navigation Limited (NASDAQ:TRMB) last announced its earnings results on Tuesday, August 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $642.20 million for the quarter, compared to the consensus estimate of $621.23 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts predict that Trimble Navigation Limited will post $1.62 earnings per share for the current fiscal year.

Trimble Navigation Limited (NASDAQ:TRMB) provides technology solutions.

To view Zacks’ full report, visit Zacks’ official website.

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