Trimble Navigation Limited (NASDAQ: TRMB) Downgraded by Piper Jaffray to Neutral
Friday, April 29, 2022 4:00 PM

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Piper Jaffray downgraded Trimble Navigation Limited (NASDAQ: TRMB) to Neutral from Overweight following the company's Q1 results due to valuation concerns, but raised its target for shares to $56 from $55.

The company recorded first quarter 2011 revenue of $384.3 million, up 20 percent as compared with the first quarter of 2010. First quarter net income was $39.7 million, up 42 percent as compared with the first quarter of 2010.  Diluted earnings per share in the first quarter were $0.32 as compared  with diluted earnings per share of$0.23 in the first quarter of 2010.  

Shares were last traded at $50.44, down 1.50 percent Thursday. TRMB has a 52-week low of $26.73 and a 52-week high of $52.30. The company has a total market cap of $6.27 billion. The price to earnings ratio of the company is 35.8, and the PEG ratio is 1.5.

Trimble Navigation Limited provides advanced positioning product solutions to commercial and government users worldwide. The company’s engineering and construction segment offers positioning, data collection, field computing, data management, and machine guidance and control products used in applications, such as surveying, road, runway, construction, site preparation, and building construction. The company was founded in 1978 and is based in Sunnyvale, California.

 

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