Terex (NYSE:TEX) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Friday.
A number of other research firms also recently issued reports on TEX. Seaport Global Securities set a $49.00 price target on Terex and gave the stock a “buy” rating in a research note on Friday, July 13th. Robert W. Baird downgraded Terex from a “neutral” rating to an “underperform” rating and set a $38.00 price target on the stock. in a research note on Tuesday, July 10th. Wells Fargo & Co downgraded Terex from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 19th. Zacks Investment Research upgraded Terex from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Tuesday, July 17th. Finally, Jefferies Financial Group upgraded Terex from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Terex has an average rating of “Hold” and a consensus target price of $45.50.
NYSE:TEX opened at $33.18 on Friday. The company has a market cap of $2.54 billion, a P/E ratio of 24.58, a PEG ratio of 0.51 and a beta of 1.52. The company has a current ratio of 2.11, a quick ratio of 1.19 and a debt-to-equity ratio of 1.15. Terex has a 52-week low of $33.03 and a 52-week high of $50.17.
Terex (NYSE:TEX) last released its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.40 billion. Terex had a return on equity of 16.66% and a net margin of 2.91%. On average, research analysts expect that Terex will post 2.92 EPS for the current fiscal year.
Terex declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 12th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
In other news, insider Kevin A. Barr sold 11,937 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $38.43, for a total value of $458,738.91. Following the completion of the sale, the insider now directly owns 101,980 shares of the company’s stock, valued at approximately $3,919,091.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steve Filipov sold 6,929 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $38.85, for a total value of $269,191.65. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 1,344 shares of company stock worth $52,633 and sold 38,866 shares worth $1,514,531. Company insiders own 3.50% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in shares of Terex by 640.1% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,529,116 shares of the industrial products company’s stock valued at $61,027,000 after buying an additional 1,322,504 shares during the period. First Hawaiian Bank acquired a new stake in shares of Terex in the 3rd quarter valued at approximately $375,000. Lenox Wealth Advisors LLC acquired a new stake in shares of Terex in the 3rd quarter valued at approximately $742,000. Bank of New York Mellon Corp lifted its holdings in shares of Terex by 21.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,449,090 shares of the industrial products company’s stock valued at $61,137,000 after buying an additional 257,666 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Terex in the 2nd quarter valued at approximately $442,000. 98.76% of the stock is owned by institutional investors and hedge funds.
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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