Oppenheimer Keeps a Buy Rating on Trimble Navigation Limited (TRMB)

By Jason Carr

Oppenheimer analyst Colin Rusch maintained a Buy rating on Trimble Navigation Limited (NASDAQ: TRMB) today and set a price target of $52. The company’s shares closed yesterday at $35.87.

Rusch wrote:

“As Trimble has aligned itself with the digital transformation occurring in its various end markets, we believe the company is reaching a critical inflection point. With increasing concerns about the health and sustainability of the current economic cycle, we believe the ability to navigate a somewhat uncertain macro environment backdrop was a key driver for TRMB’s evolving strategy. Particularly as the construction sector comes under scrutiny, a critical investment area for TRMB, we believe the company has an opportunity to leverage its domain expertise and scale to capture share. We believe investors are looking for validation of its strategy in its financials and believe 3Q18 results and 4Q18 guide are a key litmus test for its transition to a more balanced, resilient cross cycle portfolio.”

According to TipRanks.com, Rusch is a 4-star analyst with an average return of 5.8% and a 41.4% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Trimble Navigation Limited with a $50 average price target.

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Trimble Navigation Limited’s market cap is currently $8.96B and has a P/E ratio of 64.05. The company has a Price to Book ratio of 3.56.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Merit Janow, a Director at TRMB sold 30,000 shares for a total of $1,244,400.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.