In a report released yesterday, Colin Rusch from Oppenheimer maintained a Buy rating on Trimble Navigation Limited (NASDAQ: TRMB), with a price target of $50. The company’s shares closed yesterday at $35.65, close to its 52-week low of $33.68.
Rusch observed:
“TRMB continues to see broad-based growth across segments. As TRMB proceeds with acquisition integration we expect some meaningful movement in hardware/ software mix as well as non-GAAP margins. We continue to see TRMB evolving a compelling portfolio of solutions to help optimize its customers’ businesses. We are particularly constructive on asset management solutions across sectors. We believe those tools will provide ongoing interaction with clients and insight that can be leveraged in better offerings and deeper customer relationships. We are looking forward to the May 30 analyst day, when we expect TRMB to provide additional detail on the granular drivers of revenue growth, notably in Buildings and Infrastructure. We remain constructive on shares on given TRMB’s strong strategic positioning and compelling technology portfolio.”
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 13.2% and a 51.9% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Canadian Solar Inc, and Fuelcell Energy.
Currently, the analyst consensus on Trimble Navigation Limited is Strong Buy and the average price target is $47.33, representing a 32.8% upside.
In a report issued on April 24, Berenberg Bank also maintained a Buy rating on the stock with a $46 price target.
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Based on Trimble Navigation Limited’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $35 million. In comparison, last year the company had a net profit of $50.5 million.
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, Ulf Johansson, a Director at TRMB sold 50,000 shares for a total of $1,903,500.
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Trimble, Inc. engages in the provision of providing positioning, wireless and software technology solutions. It operates through the following segments: Buildings & Infrastructure, Geospatial, Resources & Utilities, and Transportation. The Buildings & Infrastructure segment serves architects, engineers, contractors, owners, and operators.
