Oppenheimer Thinks Trimble Navigation Limited’s Stock is Going to Recover

By Austin Angelo

Oppenheimer analyst Colin Rusch assigned a Buy rating to Trimble Navigation Limited (NASDAQ: TRMB) today and set a price target of $50. The company’s shares closed yesterday at $34.18, close to its 52-week low of $32.01.

Rusch commented:

“TRMB hosted a detailed analyst day highlighting how it has leveraged its history as a leading precision location and corrections technology provider into platform- level solutions provider for optimizing workflow in construction, agriculture, and transportation. We believe TRMB is well positioned to lead digitization and data-driven decision making in those end markets. As the company digests and integrates its largest acquisitions to date, we expect it to generate low double digit top-line growth over the next two years and then to return to a mix of organic and inorganic growth to maintain ~10% growth LT. With balanced end-market diversification and increasing software/recurring revenue mix, we believe TRMB’s historical cyclical exposure has been significantly mitigated. We remain buyers and reiterate our $50 price target.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 17.1% and a 50.6% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Canadian Solar Inc, and Fuelcell Energy.

Currently, the analyst consensus on Trimble Navigation Limited is Moderate Buy and the average price target is $44.67, representing a 30.7% upside.

In a report issued on May 23, Edward Jones also upgraded the stock to Buy.

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Trimble Navigation Limited’s market cap is currently $8.5B and has a P/E ratio of 68.36. The company has a Price to Book ratio of 3.40.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Steven Berglund, the President & CEO of TRMB sold 450,000 shares for a total of $15,651,377.

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.