Terex (TEX) Price Target Cut to $28.00 by Analysts at Bank of America

Terex (NYSE:TEX) had its price objective dropped by Bank of America from $40.00 to $28.00 in a report issued on Friday. The firm presently has an “underperform” rating on the industrial products company’s stock. Bank of America’s price target suggests a potential downside of 10.20% from the company’s previous close.

Several other equities analysts have also recently issued reports on TEX. ValuEngine raised Terex from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Robert W. Baird cut Terex from a “neutral” rating to an “underperform” rating and set a $38.00 price objective for the company. in a report on Tuesday, July 10th. Seaport Global Securities set a $49.00 price objective on Terex and gave the company a “buy” rating in a report on Friday, July 13th. Zacks Investment Research raised Terex from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, July 17th. Finally, Wells Fargo & Co cut Terex from an “outperform” rating to a “market perform” rating in a report on Thursday, July 19th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $44.33.

Shares of TEX stock traded down $4.82 on Friday, hitting $31.18. The company had a trading volume of 4,795,982 shares, compared to its average volume of 1,391,262. The stock has a market cap of $2.30 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 0.46 and a beta of 1.61. The company has a quick ratio of 1.19, a current ratio of 2.11 and a debt-to-equity ratio of 1.15. Terex has a twelve month low of $28.64 and a twelve month high of $50.17.

Terex (NYSE:TEX) last issued its quarterly earnings data on Thursday, November 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.07). The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. Terex had a net margin of 2.42% and a return on equity of 18.39%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. Sell-side analysts anticipate that Terex will post 2.65 earnings per share for the current fiscal year.

Terex declared that its board has authorized a share repurchase program on Thursday, July 12th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

In other Terex news, VP Eric I. Cohen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $39.01, for a total transaction of $390,100.00. Following the completion of the sale, the vice president now directly owns 182,905 shares in the company, valued at approximately $7,135,124.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kevin A. Barr sold 11,937 shares of the business’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 sale, the insider now owns 101,980 shares of the company’s stock, valued at $3,919,091.40. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 1,344 shares of company stock valued at $52,633 and sold 38,866 shares valued at $1,514,531. Corporate insiders own 3.50% of the company’s stock.

Large investors have recently bought and sold shares of the business. Stratos Wealth Partners LTD. purchased a new stake in Terex during the 3rd quarter worth approximately $109,000. Delta Capital Management LLC purchased a new stake in Terex during the 2nd quarter worth approximately $212,000. Lido Advisors LLC purchased a new stake in Terex during the 2nd quarter worth approximately $246,000. Strs Ohio purchased a new stake in Terex during the 2nd quarter worth approximately $307,000. Finally, Pinnacle Associates Ltd. increased its stake in Terex by 32.4% during the 2nd quarter. Pinnacle Associates Ltd. now owns 8,170 shares of the industrial products company’s stock worth $345,000 after buying an additional 2,001 shares in the last quarter.

About Terex

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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Analyst Recommendations for Terex (NYSE:TEX)

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