Trimble Navigation Ltd. (TRMB) Rating Reiterated by Oppenheimer Holdings Inc.
Trimble Navigation Ltd. (NASDAQ:TRMB)‘s stock had its “outperform” rating reissued by equities research analysts at Oppenheimer Holdings Inc. in a note issued to investors on Thursday. They presently have a $32.00 target price on the stock. Oppenheimer Holdings Inc.’s price target indicates a potential upside of 12.20% from the stock’s current price.
Other research analysts also recently issued reports about the company. Wedbush reaffirmed a “buy” rating on shares of Trimble Navigation in a report on Sunday, June 26th. Zacks Investment Research downgraded Trimble Navigation from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. TheStreet raised Trimble Navigation from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Dougherty & Co reaffirmed a “buy” rating and set a $32.00 price target on shares of Trimble Navigation in a report on Monday, September 12th. Finally, JPMorgan Chase & Co. set a $29.00 target price on Trimble Navigation and gave the company a “hold” rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $27.83.
Trimble Navigation (NASDAQ:TRMB) opened at 28.52 on Thursday. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 62.00 and a beta of 2.20. The firm’s 50-day moving average price is $27.62 and its 200-day moving average price is $26.04. Trimble Navigation has a 12-month low of $17.51 and a 12-month high of $28.99.
Trimble Navigation (NASDAQ:TRMB) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $609.60 million for the quarter, compared to the consensus estimate of $611.79 million. Trimble Navigation had a net margin of 5.04% and a return on equity of 11.00%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. On average, equities analysts predict that Trimble Navigation will post $1.18 EPS for the current fiscal year.
In related news, CFO Robert G. Painter sold 11,919 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $26.85, for a total transaction of $320,025.15. Following the completion of the sale, the chief financial officer now owns 34,380 shares in the company, valued at $923,103. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jurgen Kliem sold 16,700 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $26.00, for a total value of $434,200.00. Following the sale, the vice president now owns 21,693 shares of the company’s stock, valued at approximately $564,018. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Strs Ohio boosted its stake in Trimble Navigation by 59.2% in the second quarter. Strs Ohio now owns 6,841 shares of the company’s stock valued at $166,000 after buying an additional 2,544 shares in the last quarter. Eqis Capital Management Inc. purchased a new position in Trimble Navigation during the third quarter valued at $201,000. Cantab Capital Partners LLP boosted its position in Trimble Navigation by 309.1% in the second quarter. Cantab Capital Partners LLP now owns 8,342 shares of the company’s stock valued at $203,000 after buying an additional 6,303 shares in the last quarter. WMS Partners LLC purchased a new position in Trimble Navigation during the second quarter valued at $247,000. Finally, Westpac Banking Corp boosted its position in Trimble Navigation by 33.1% in the second quarter. Westpac Banking Corp now owns 12,563 shares of the company’s stock valued at $306,000 after buying an additional 3,121 shares in the last quarter. Hedge funds and other institutional investors own 90.15% of the company’s stock.
Trimble Navigation Company Profile
Trimble Navigation Limited is a provider of technology solutions for professionals and field mobile workers to transform work processes. The Company operates through four segments: Engineering and Construction, Field Solutions, Mobile Solutions and Advanced Devices. Its products include equipment that automates large industrial equipment, such as tractors and bulldozers; integrated systems that track fleets of vehicles and workers and provide information and analytics to the back-office; data collection systems that enable the management of geo-referenced information; software solutions that connect all aspects of a construction site or a farm, and building information modeling (BIM) software that is used throughout the design, build and operation of buildings.
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