Raymond James lifts Trimble Inc [TRMB] price estimate. Who else is bullish?

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Trimble Inc [NASDAQ: TRMB] loss -13.09% or -6.17 points to close at $40.96 with a heavy trading volume of 5518974 shares. The company report on November 1, 2023 at 7:05 AM that Trimble Announces David Barnes to Retire from the Company; Phil Sawarynski Named CFO effective May 2024.

Trimble (NASDAQ:TRMB) today announced on its third quarter fiscal 2023 earnings call that Chief Financial Officer David Barnes will retire from the company in May 2024. The company has named Phil Sawarynski, Vice President of Treasury, Corporate Development and Co-Lead of Trimble Ventures, its new CFO effective May 2024. Mr. Barnes and Mr. Sawarynski will work together over the next six months to ensure a seamless transition. Click here – https://investor.trimble.com/events-and-presentations/default.aspx- for the transcript and replay of today’s earnings announcement.

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“I want to thank David for his significant contributions to Trimble over the past four years. He has provided tremendous leadership to both the finance organization and the entire company. Phil Sawarynski brings over 14 years of Trimble experience to the CFO role, with a mandate to unlock shareholder value. David, Phil, and our strong finance team will work together to ensure a smooth transition over the next six months,” said Rob Painter, President and Chief Executive Officer.

It opened the trading session at $45.65, the shares rose to $46.25 and dropped to $39.57, the range by which the price of stock traded the whole day. The daily chart for TRMB points out that the company has recorded -13.60% loss over the past six months. However, it is still 9.84% lower than its most recent low trading price.

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If we look at the average trading volume of 1.38M shares, TRMB reached to a volume of 5518974 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $63.82 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 2.08. 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.

Raymond James have made an estimate for Trimble Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 29, 2023.

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The Average True Range (ATR) for Trimble Inc is set at 1.74, with the Price to Sales ratio for TRMB stock in the period of the last 12 months amounting to 2.79. The Price to Book ratio for the last quarter was 2.35, with the Price to Cash per share for the same quarter was set at 0.96. Price to Free Cash Flow for TRMB in the course of the last twelve months was 20.07 with Quick ratio for the last quarter at 0.84.

Trading performance analysis for TRMB stock

Trimble Inc [TRMB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.29. With this latest performance, TRMB shares dropped by -20.85% in over the last four-week period, additionally sinking by -13.60% over the last 6 months – not to mention a drop of -31.91% 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 22.55, with the RSI for the last a single of trading hit 17.22, and the three-weeks RSI is set at 26.98 for Trimble Inc [TRMB]. The present Moving Average for the last 50 days of trading for this stock 50.90, while it was recorded at 45.48 for the last single week of trading, and 51.46 for the last 200 days.

Trimble Inc [TRMB]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Trimble Inc [TRMB] shares currently have an operating margin of +14.72 and a Gross Margin at +56.01. Trimble Inc’s Net Margin is presently recorded at +12.23.

Return on Total Capital for TRMB is now 9.75, given the latest momentum, and Return on Invested Capital for the company is 8.38. Return on Equity for this stock inclined to 11.25, with Return on Assets sitting at 6.26. When it comes to the capital structure of this company, Trimble Inc [TRMB] has a Total Debt to Total Equity ratio set at 40.99. Additionally, TRMB Total Debt to Total Capital is recorded at 29.07, with Total Debt to Total Assets ending up at 22.84. Long-Term Debt to Equity for the company is recorded at 32.72, with the Long-Term Debt to Total Capital now at 23.21.

Reflecting on the efficiency of the workforce at the company, Trimble Inc [TRMB] managed to generate an average of $38,030 per employee. Receivables Turnover for the company is 5.80 with a Total Asset Turnover recorded at a value of 0.51.Trimble Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.84 and a Current Ratio set at 1.12.

Trimble Inc [TRMB]: An earnings per share (EPS) analysis

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%.

An analysis of Institutional ownership at Trimble Inc [TRMB]

The top three institutional holders of TRMB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in TRMB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in TRMB stock with ownership which is approximately 5.7994%.

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