Trimble Navigation (NASDAQ:TRMB) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report released on Wednesday, AnalystRatingsNetwork.com reports. The firm currently has a $30.00 price target on the stock. Zacks‘ price target suggests a potential upside of 6.38% from the company’s current price.
Zacks‘ analyst wrote, “Trimble is an OEM of GPS-based products and control systems. June quarter results beat the Zacks Consensus Estimate and guidance was more or less in-line. While government sequestration concerns remain, improving trends in the domestic construction market, increasing adoption of technology in the agricultural market and well-planned acquisitions in the TMS segment remain secular drivers. Product enhancements and introductions, a re-aligned cost structure, improving mix of software and services revenue, and international expansion are other positives. We therefore upgrade the shares to Neutral.”
Shares of Trimble Navigation (NASDAQ:TRMB) traded up 0.67% on Wednesday, hitting $28.39. 756,662 shares of the company’s stock traded hands. Trimble Navigation has a 52-week low of $22.58 and a 52-week high of $32.03. The stock’s 50-day moving average is $26.67 and its 200-day moving average is $27.75. The company has a market cap of $7.288 billion and a P/E ratio of 38.32.
A number of other analysts have also recently weighed in on TRMB. Analysts at Needham & Company downgraded shares of Trimble Navigation from a “buy” rating to a “hold” rating in a research note to investors on Monday. Separately, analysts at Robert W. Baird initiated coverage on shares of Trimble Navigation in a research note to investors on Wednesday, September 4th. They set an “outperform” rating and a $36.00 price target on the stock. Finally, analysts at Lazard Capital Markets raised their price target on shares of Trimble Navigation from $31.00 to $32.00 in a research note to investors on Thursday, August 1st. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Trimble Navigation has a consensus rating of “Buy” and an average target price of $32.50.
Trimble Navigation Limited (NASDAQ:TRMB) provides technology solutions.
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