Trimble Navigation Ltd. (TRMB) Upgraded by Zacks Investment Research to Buy
Trimble Navigation Ltd. (NASDAQ:TRMB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $46.00 price target on the scientific and technical instruments company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.86% from the stock’s previous close.
According to Zacks, “Trimble has outperformed the industry on a year-to-date basis. The company’s aggressive acquisition strategy is helping it to rapidly expand product portfolio, improve competitive positions and enter new markets. Recent acquisitions have expanded Trimble’s Transportation, Agriculture Management and Forest solutions portfolio. Moreover, they have aided the company to expand in markets like Germany, Finland and Canada. We also note that the company’s initiatives toward lowering the cost structure is helping in improving profits. The company expects operating margin expansion to continue, going forward. However, intensifying competition, weakness in European Geospatial market, slow down in Asia Pacific, uncertainty in the United States and Mexico are major headwinds. Recent acquisitions are also expected to be dilutive to the bottom-line, which does not augur well for investors.”
TRMB has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and set a $45.00 price target (up from $42.00) on shares of Trimble Navigation in a report on Sunday. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Trimble Navigation in a report on Thursday, October 19th. Piper Jaffray Companies set a $43.00 price target on Trimble Navigation and gave the stock a “buy” rating in a report on Friday, August 25th. Morgan Stanley boosted their price target on Trimble Navigation from $24.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, August 17th. Finally, BidaskClub cut Trimble Navigation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $41.70.
Trimble Navigation (TRMB) traded up 0.6541% on Tuesday, reaching $41.0266. 517,046 shares of the company’s stock were exchanged. Trimble Navigation has a 52 week low of $25.30 and a 52 week high of $43.97. The company has a market cap of $10.39 billion, a price-to-earnings ratio of 59.4588 and a beta of 2.30. The stock’s 50 day moving average is $40.35 and its 200 day moving average is $37.40.
Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The company had revenue of $670.00 million for the quarter, compared to analysts’ expectations of $660.11 million. Trimble Navigation had a return on equity of 12.97% and a net margin of 7.66%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 earnings per share. On average, equities analysts anticipate that Trimble Navigation will post $1.46 earnings per share for the current year.
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In related news, SVP Darryl R. Matthews sold 3,714 shares of Trimble Navigation stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $38.66, for a total value of $143,583.24. Following the transaction, the senior vice president now directly owns 2,000 shares of the company’s stock, valued at $77,320. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP James A. Kirkland sold 10,000 shares of Trimble Navigation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $37.60, for a total value of $376,000.00. Following the completion of the transaction, the vice president now directly owns 31,781 shares in the company, valued at $1,194,965.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 252,688 shares of company stock worth $9,616,521. 1.40% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank lifted its stake in shares of Trimble Navigation by 13.0% in the second quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock worth $111,000 after acquiring an additional 357 shares during the period. Commonwealth Bank of Australia lifted its stake in shares of Trimble Navigation by 17.2% in the second quarter. Commonwealth Bank of Australia now owns 3,400 shares of the scientific and technical instruments company’s stock worth $121,000 after acquiring an additional 500 shares during the period. Howe & Rusling Inc. acquired a new position in shares of Trimble Navigation in the third quarter worth approximately $139,000. Acadian Asset Management LLC acquired a new position in shares of Trimble Navigation in the second quarter worth approximately $134,000. Finally, Advisor Group Inc. lifted its stake in shares of Trimble Navigation by 3.7% in the second quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock worth $142,000 after acquiring an additional 144 shares during the period. 89.99% of the stock is currently owned by institutional investors.
Trimble Navigation 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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