• Return to Headlines

Downgrade Alert for Trimble Navigation (TRMB)

By Shiri Gupta

Trimble Navigation (NASDAQ:TRMB) was downgraded from Overweight to Neutral at JP Morgan today. The stock closed yesterday at $23.89 on volume of 2.3 million shares, above average daily volume of 1.2 million.

In the past 52 weeks, Trimble Navigation share prices have been bracketed by a low of $15.90 and a high of $27.79 and closed yesterday at $23.89, 50% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Trimble Navigation (NASDAQ:TRMB) is currently priced 4.3% above its average consensus analyst price target of $22.86. The stock should find resistance at its 50-day moving average (MA) of $24.78, as well as support at its 200-day MA of $21.32.

Trimble Navigation Limited designs, manufactures, and markets electronic products, enabled by Global Positioning System technology, that determine precise geographic location. The Company's products are integrated systems for collecting, analyzing, and displaying position data in forms optimized for specific end-user applications.

SmarTrend recommended that subscribers consider buying shares of Trimble Navigation on February 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.27. Since that recommendation, shares of Trimble Navigation have risen 3.4%. We continue to monitor TRMB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades trimble navigation

Ticker(s): TRMB