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Trimble Navigation Shares Popped: What You Need to Know

By Anders Bylund - Updated Apr 6, 2017 at 10:01PM

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Is this meaningful? Or just another movement?

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of business-class GPS gadget designer Trimble Navigations (Nasdaq: TRMB) found their way to gains as high as 11.6% today. The upward trend continued on heavy volume into the afternoon hours.

So what: As of last night, a wee-long fall had taken a 22% toll on Trimble's value -- until JPMorgan Chase upgraded the stock to a "buy." The upgrade appears to be based on valuation, as Morgan kept its price target on Trimble steady at $53.50.

Now what: Trimble reported decent earnings with a weak outlook a week ago, sending the stock on a downward slide that was exacerbated by a much stronger report from Garmin (Nasdaq: GRMN) this Wednesday. This is a story of dueling analysts: That first-quarter report was greeted by two immediate downgrades and one reiterated "buy" before JPMorgan Chase decided to join the party. Our Foolish analyst teams are siding with the bears on this one, as two newsletters have decided to short the stock, and Trimble also rates a single star out of five in our CAPS system. There's not a whole lot to love here.

Interested in more info on Trimble Navigation? Add it to your watchlist.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis – even one of our own – helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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Stocks Mentioned

Garmin Ltd. Stock Quote
Garmin Ltd.
$136.44 (1.82%) $2.44
Trimble Inc. Stock Quote
Trimble Inc.
$87.60 (4.91%) $4.10

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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