Somewhat Positive Press Coverage Somewhat Unlikely to Impact Trimble (TRMB) Stock Price
News coverage about Trimble (NASDAQ:TRMB) has been trending somewhat positive this week, Accern Sentiment reports. The research group rates the sentiment of news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Trimble earned a daily sentiment score of 0.18 on Accern’s scale. Accern also gave media coverage about the scientific and technical instruments company an impact score of 46.6821108537946 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the headlines that may have impacted Accern Sentiment’s rankings:
- Trimble Inc., (NASDAQ: TRMB) – Hot Stock’s Highlights – Stock Watch (stocksnewstimes.com)
- State of Tennessee Treasury Department Sells 62,389 Shares of Trimble Inc (TRMB) (americanbankingnews.com)
- Impax Asset Management LTD Raises Position in Trimble Inc (TRMB) (americanbankingnews.com)
- Investor’s Roundup (Intraday Analysis): Trimble Inc (NASDAQ: TRMB) – Alpha Beta Stock (alphabetastock.com)
- Trimble Inc. (TRMB) Stock in the Technical Spotlight – Wall Street Morning (wallstreetmorning.com)
Several brokerages have commented on TRMB. BidaskClub upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Oppenheimer restated a “buy” rating and set a $50.00 price target (up from $45.00) on shares of Trimble in a research note on Wednesday, January 31st. Zacks Investment Research upgraded Trimble from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Tuesday, December 26th. Finally, TheStreet lowered Trimble from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Trimble presently has a consensus rating of “Hold” and a consensus target price of $42.10.
Trimble (NASDAQ:TRMB) last posted its earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Trimble had a return on equity of 13.37% and a net margin of 4.56%. The business had revenue of $708.40 million during the quarter, compared to analyst estimates of $674.84 million. During the same quarter last year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. research analysts expect that Trimble will post 1.5 EPS for the current fiscal year.
Trimble announced that its board has initiated a share repurchase plan on Wednesday, November 15th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, CEO Steven W. Berglund sold 200,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $39.25, for a total value of $7,850,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark S. Peek sold 5,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $39.36, for a total value of $196,800.00. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,377,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 422,941 shares of company stock valued at $16,696,928. Insiders own 1.40% of the company’s stock.
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Trimble 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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