Trimble Navigation Ltd. (NASDAQ:TRMB) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm presently has a $43.00 price objective on the scientific and technical instruments company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.91% from the company’s current price.

According to Zacks, “Trimble is an OEM of GPS-based products and control systems. The company reported strong second-quarter 2017 results with both the top and the bottom line surpassing the Zacks Consensus Estimate.The company’s initiatives toward lowering the cost structure to another framework and making strategic acquisitions, along with the increased adoption of technology in the agricultural market, product enhancements and international expansion should also see it through the current market environment. Nonetheless, exchange rates and deferred revenue accounting effects. Over the past one year, the stock has outperformed the Zacks characterized Electronic Products Miscellaneous industry.”

TRMB has been the subject of several other research reports. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $39.00 target price (up previously from $38.00) on shares of Trimble Navigation in a research report on Tuesday, June 13th. Piper Jaffray Companies reiterated a “buy” rating and set a $39.00 target price on shares of Trimble Navigation in a research report on Wednesday, July 12th. BidaskClub cut Trimble Navigation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Dougherty & Co upgraded Trimble Navigation from a “neutral” rating to a “buy” rating in a research report on Friday, April 28th. Finally, Craig Hallum increased their target price on Trimble Navigation from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Trimble Navigation presently has an average rating of “Buy” and a consensus target price of $41.00.

Shares of Trimble Navigation (NASDAQ TRMB) traded up 0.42% during mid-day trading on Monday, hitting $37.91. The stock had a trading volume of 393,802 shares. Trimble Navigation has a 12 month low of $25.30 and a 12 month high of $39.00. The company has a market cap of $9.59 billion, a PE ratio of 54.94 and a beta of 2.31. The stock’s 50-day moving average is $36.91 and its 200 day moving average is $33.67.

Trimble Navigation (NASDAQ:TRMB) last released its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.02. Trimble Navigation had a return on equity of 12.71% and a net margin of 7.25%. The business had revenue of $661.90 million for the quarter, compared to analysts’ expectations of $643.05 million. During the same quarter in the prior year, the business posted $0.29 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts forecast that Trimble Navigation will post $1.42 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Trimble Navigation Ltd. (TRMB) Upgraded to “Strong-Buy” at Zacks Investment Research” was published by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/07/trimble-navigation-ltd-trmb-upgraded-to-strong-buy-at-zacks-investment-research.html.

In other Trimble Navigation news, Director Mark S. Peek sold 11,717 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $36.35, for a total transaction of $425,912.95. Following the completion of the transaction, the director now owns 30,000 shares in the company, valued at approximately $1,090,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kaigham Gabriel sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $35.53, for a total value of $213,180.00. Following the transaction, the director now owns 10,670 shares of the company’s stock, valued at approximately $379,105.10. The disclosure for this sale can be found here. Insiders have sold a total of 142,263 shares of company stock valued at $5,094,328 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of Trimble Navigation by 6,646.3% in the first quarter. BlackRock Inc. now owns 22,577,637 shares of the scientific and technical instruments company’s stock worth $722,710,000 after buying an additional 22,242,969 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Trimble Navigation by 4.5% in the first quarter. Vanguard Group Inc. now owns 20,464,940 shares of the scientific and technical instruments company’s stock worth $655,082,000 after buying an additional 879,694 shares during the last quarter. Pictet Asset Management Ltd. raised its position in shares of Trimble Navigation by 34.9% in the first quarter. Pictet Asset Management Ltd. now owns 3,191,804 shares of the scientific and technical instruments company’s stock worth $102,169,000 after buying an additional 826,494 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Trimble Navigation by 157.6% in the first quarter. Russell Investments Group Ltd. now owns 923,324 shares of the scientific and technical instruments company’s stock worth $29,555,000 after buying an additional 564,878 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Trimble Navigation by 1,733.8% in the first quarter. Victory Capital Management Inc. now owns 490,090 shares of the scientific and technical instruments company’s stock worth $15,687,000 after buying an additional 463,364 shares during the last quarter. Institutional investors and hedge funds own 90.40% of the company’s stock.

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.

Analyst Recommendations for Trimble Navigation (NASDAQ:TRMB)

Receive News & Ratings for Trimble Navigation Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trimble Navigation Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.