Why Has Oppenheimer Given Trimble Navigation (NASDAQ:TRMB) a $32 Price Target
In a note made public today, Oppenheimer analysts began Trimble Navigation (NASDAQ:TRMB) coverage with “Outperform” rating, and a $32 target.
From a total of 9 analysts covering Trimble Navigation Limited (NASDAQ:TRMB) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 7 a ”Hold”. This means that 42% of the ratings are positive. The highest target price is $28 while the lowest target price is $20. The mean of all analyst targets is $24.11 with a -1.01% below today’s ($21.72) stock price. Trimble Navigation Limited was the topic of 9 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Wedbush initiated shares on December 2 with “Outperform” rating. Craig Hallum maintained shares with “Hold” rating and $20 target share price in a report from an August 5. Robert W. Baird upgraded TRMB stock in a recent report from October 30 to “Outperform” rating. Finally, Morgan Stanley initiated the stock with “Equal Weight” rating in a report issued on a September 21.
The stock closed the day at $21.72 during the previous session. It is down 14.12% since May 7, 2015 and is downtrending. It has underperformed by 12.18% the S&P500.
The overall sentiment of institutions has decreased to 0.91 in Q2 2015. Its down 0.11, from 1.02 in 2015Q2. The ratio turned negative, as 51 institutions have sold all the shares of Trimble Navigation Limited that they owned while 110 funds have taken shares off the table. 38 funds have purchased shares for the first time while 109 added to their positions. These institutions now hold 206.21 million shares or 12.03% less than the 234.40 million shares they owned in 2015Q2.
The Fund Cornerstone Capital Inc. currently is holding shares equating to 2.28% of its total portfolio in Trimble Navigation Limited representing a total of 558,097 shares. Another fund,Robecosam Usa Inc., is holding a total of 81,428 shares equating to 1.93% of their holdings. Additionally, Arrowpoint Asset Management Llc has a 4.18 million share stake in Trimble Navigation Limited which represents 1.87% of their total portfolio. The Fund, Impax Asset Management Ltd, based out of United Kingdom, has also built up a stake in the stock, which represents a total of 1.76% of their total portfolio. Finally Spears Abacus Advisors Llc, a fund which is based in the state of New York reported a total holdings of 806,243 shares.
Trimble Navigation Limited is a provider of technology solutions for professionals and field mobile workers. The company has a market cap of $5.44 billion. The Firm operates through four divisions: Engineering and Construction, Field Solutions, Mobile Solutions and Advanced Devices. It has 37.01 P/E ratio. The Engineering and Construction segment provides heavy civil construction, building construction and geospatial solutions.
According to Zacks Investment Research, “Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location-including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office.” Get a free copy of the Zacks research report on Trimble Navigation Limited (TRMB).