Trimble Inc. [TRMB] stock Downgrade by Piper Sandler analyst, price target now $70

Trimble Inc. [NASDAQ: TRMB] traded at a low on 10/05/22, posting a -2.01 loss after which it closed the day’ session at $57.61. The company report on October 4, 2022 that Trimble Announces Tekla Global BIM Awards 2022 Winners.

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T2 Alliance Wins Best BIM Project for Complex Airport Expansion Project.

Trimble (NASDAQ; TRMB) announced today the winners of its 2022 Tekla® Global Building Information Modeling (BIM) Awards. In this biennial competition, the world’s most impressive structural construction projects that use Tekla solutions are judged in eight categories. The criteria the projects are judged on include Use of BIM and Collaboration, Innovative Use of Tekla software, Constructibility, Environmental Benefits and Cool Factor. The overall winner for the best BIM project of 2022 is T2 Alliance, for their Helsinki Airport expansion project.

The results of the trading session contributed to over 7072057 shares changing hands. Over the past one week, the price volatility of Trimble Inc. stands at 2.96% while the volatility over the past one month is 2.86%.

The market cap for TRMB stock reached $14.53 billion, with 249.20 million shares outstanding and 246.72 million shares in the current float. Compared to the average trading volume of 980.75K shares, TRMB reached a trading volume of 7072057 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Trimble Inc. [TRMB]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TRMB shares is $78.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TRMB stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Trimble Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 08, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Peer Perform. The new note on the price target was released on August 17, 2022, representing the official price target for Trimble Inc. stock. Previously, the target price had yet another drop from $70 to $67, while Morgan Stanley kept a Equal-Weight rating on TRMB stock.

The Average True Range (ATR) for Trimble Inc. is set at 1.97, with the Price to Sales ratio for TRMB stock in the period of the last 12 months amounting to 3.86. The Price to Book ratio for the last quarter was 3.69, with the Price to Cash per share for the same quarter was set at 1.39. Price to Free Cash Flow for TRMB in the course of the last twelve months was 30.89 with Quick ratio for the last quarter at 0.80.

How has TRMB stock performed recently?

Trimble Inc. [TRMB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.21. With this latest performance, TRMB shares dropped by -4.33% in over the last four-week period, additionally sinking by -21.35% over the last 6 months – not to mention a drop of -30.01% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TRMB stock in for the last two-week period is set at 44.41, with the RSI for the last a single of trading hit 48.09, and the three-weeks RSI is set at 43.53 for Trimble Inc. [TRMB]. The present Moving Average for the last 50 days of trading for this stock 63.96, while it was recorded at 56.43 for the last single week of trading, and 67.44 for the last 200 days.

Trimble Inc. [TRMB]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Trimble Inc. [TRMB] shares currently have an operating margin of +15.98 and a Gross Margin at +53.51. Trimble Inc.’s Net Margin is presently recorded at +13.47.

Return on Equity for this stock inclined to 13.07, with Return on Assets sitting at 7.05.

Trimble Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.00.

Earnings analysis for Trimble Inc. [TRMB]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TRMB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Trimble Inc. go to 10.00%.

Insider trade positions for Trimble Inc. [TRMB]

There are presently around $13,068 million, or 96.30% of TRMB stock, in the hands of institutional investors. The top three institutional holders of TRMB stocks are: VANGUARD GROUP INC with ownership of 27,793,043, which is approximately 0.788% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 19,515,908 shares of the stock with an approximate value of $1.12 billion in TRMB stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $918.52 million in TRMB stock with ownership of nearly 0.063% of the company’s market capitalization.

Positions in Trimble Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 296 institutional holders increased their position in Trimble Inc. [NASDAQ:TRMB] by around 12,274,706 shares. Additionally, 271 investors decreased positions by around 13,671,065 shares, while 91 investors held positions by with 200,891,692 shares. The mentioned changes placed institutional holdings at 226,837,463 shares, according to the latest SEC report filing. TRMB stock had 75 new institutional investments in for a total of 1,598,560 shares, while 73 institutional investors sold positions of 2,154,623 shares during the same period.


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