In a report released today, Colin Rusch from Oppenheimer maintained a Buy rating on Trimble Navigation Limited (TRMB), with a price target of $52. The company’s shares closed yesterday at $40.46.
Rusch said:
“TRMB posted in-line 1Q results and guide as it continues to execute well in the face of modest headwinds. We are encouraged to see the company meeting deleveraging targets a year ahead of schedule while demonstrating incremental operating leverage. We note combined service and subscription revenue was up 28% Y/Y. While this growth was largely driven by acquisitions, we believe mix toward higher levels of recurring revenue will translate into a higher multiple for shares over time. While the near-term macro appears mixed, we believe TRMB’s opportunity to mine its existing customer base to capture additional wallet share in software and services is a compelling long-term strategy that should enable continued end-market outperformance.”
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 11.8% and a 50.8% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as American Superconductor Corporation, Capstone Turbine Corp, and Canadian Solar Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Trimble Navigation Limited with a $52 average price target.
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Trimble Navigation Limited’s market cap is currently $10.15B and has a P/E ratio of 36.44. The company has a Price to Book ratio of 3.80.
Based on the recent corporate insider activity of 97 insiders, corporate insider sentiment is negative on the stock.
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Trimble, Inc. engages in the provision of positioning technology solutions. It operates through the following segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment serves architects, engineers, contractors, owners, and operators.
