In a report released today, Richard Valera from Needham assigned a Buy rating to Trimble Navigation (TRMB), with a price target of $56.00. The company’s shares closed last Wednesday at $53.03, close to its 52-week high of $54.51.
According to TipRanks.com, Valera is a 5-star analyst with an average return of 16.3% and a 64.8% success rate. Valera covers the Technology sector, focusing on stocks such as Zoom Video Communications, Altair Engineering, and Vonage Holdings.
Currently, the analyst consensus on Trimble Navigation is a Strong Buy with an average price target of $54.00, which is a 3.7% upside from current levels. In a report issued on October 21, Oppenheimer also maintained a Buy rating on the stock with a $56.00 price target.
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Based on Trimble Navigation’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $734 million and net profit of $63 million. In comparison, last year the company earned revenue of $855 million and had a net profit of $94.6 million.
Based on the recent corporate insider activity of 97 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TRMB in relation to earlier this year. Most recently, in September 2020, Mark Peek, a Director at TRMB sold 25,000 shares for a total of $1,253,500.
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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. The Geospatial segment focuses on providing solutions for the customers working in surveying, engineering, and government. The Resources and Utilities segment offers services to customers working in agriculture, forestry, and utilities. The Transportation segment covers solutions for the long-haul trucking, field service management, rail, and construction logistics industries. The company was founded in 1978 by Charles Robert Trimble and is headquartered in Sunnyvale, CA.
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