Terex (NYSE:TEX) was down 0% during trading on Tuesday . The stock traded as low as $35.91 and last traded at $36.64. Approximately 2,270,276 shares changed hands during mid-day trading, an increase of 50% from the average daily volume of 1,517,952 shares. The stock had previously closed at $36.64.
Several equities research analysts recently commented on TEX shares. Morgan Stanley started coverage on Terex in a report on Friday, March 2nd. They issued an “equal weight” rating and a $45.00 price target for the company. Seaport Global Securities raised Terex from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, April 18th. Credit Suisse Group cut their price target on Terex from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Wells Fargo set a $45.00 price target on Terex and gave the company a “buy” rating in a report on Monday, April 16th. Finally, Zacks Investment Research raised Terex from a “hold” rating to a “strong-buy” rating and set a $50.00 price target for the company in a report on Monday, February 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $46.00.
The stock has a market capitalization of $3,192.21, a price-to-earnings ratio of 27.14, a P/E/G ratio of 0.96 and a beta of 1.80. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.80.
Terex (NYSE:TEX) last issued its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.08. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $999.18 million. Terex had a return on equity of 8.80% and a net margin of 2.95%. analysts expect that Terex will post 2.54 EPS for the current fiscal year.
Terex declared that its board has approved a stock repurchase program on Wednesday, February 7th that permits the company to buyback $325.00 million in shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, VP Eric I. Cohen sold 10,121 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $49.90, for a total transaction of $505,037.90. Following the completion of the transaction, the vice president now directly owns 185,897 shares in the company, valued at $9,276,260.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David A. Sachs purchased 3,500 shares of the stock in a transaction dated Monday, March 26th. The shares were purchased at an average price of $37.00 per share, with a total value of $129,500.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 11,343 shares of company stock valued at $419,457 and have sold 49,411 shares valued at $2,090,346. Company insiders own 3.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of Terex by 388.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the industrial products company’s stock worth $123,000 after buying an additional 2,028 shares during the period. Landaas & Co. WI ADV boosted its position in shares of Terex by 602.6% during the fourth quarter. Landaas & Co. WI ADV now owns 3,513 shares of the industrial products company’s stock worth $169,000 after buying an additional 3,013 shares during the period. Investors Research Corp purchased a new position in shares of Terex during the fourth quarter worth $203,000. LPL Financial LLC purchased a new position in shares of Terex during the fourth quarter worth $211,000. Finally, CAPROCK Group Inc. purchased a new position in shares of Terex during the fourth quarter worth $226,000. Institutional investors and hedge funds own 98.16% of the company’s stock.
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Terex Company Profile
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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