Terex (NYSE:TEX) had its price objective reduced by research analysts at Wells Fargo & Co from $45.00 to $34.00 in a report released on Monday. The brokerage currently has a “hold” rating on the industrial products company’s stock. Wells Fargo & Co’s price target would suggest a potential upside of 7.26% from the stock’s current price.
TEX has been the topic of several other research reports. Seaport Global Securities set a $49.00 price objective on Terex and gave the company a “buy” rating in a research note on Friday, July 13th. ValuEngine lowered Terex from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Bank of America lowered their target price on Terex from $40.00 to $28.00 and set an “underperform” rating for the company in a report on Friday, November 2nd. Morgan Stanley lowered their target price on Terex from $46.00 to $42.00 and set a “hold” rating for the company in a report on Monday. Finally, Zacks Investment Research raised Terex from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $41.75.
Shares of NYSE TEX opened at $31.70 on Monday. Terex has a 52-week low of $28.64 and a 52-week high of $50.17. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 0.51 and a beta of 1.61. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.19 and a current ratio of 2.22.
Terex (NYSE:TEX) last announced 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). Terex had a net margin of 2.42% and a return on equity of 18.86%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company earned $0.50 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts predict that Terex will post 2.65 EPS for the current fiscal year.
Terex declared that its board has approved a stock buyback plan on Thursday, July 12th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
In related news, insider Kevin A. Barr sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $39.65, for a total value of $396,500.00. Following the completion of the transaction, the insider now directly owns 113,908 shares of the company’s stock, valued at approximately $4,516,452.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steve Filipov sold 6,929 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was 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 ninety days, insiders have bought 973 shares of company stock valued at $37,603 and have sold 38,866 shares valued at $1,514,531. 3.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of TEX. Royal Bank of Canada grew its holdings in Terex by 15.1% in the 1st quarter. Royal Bank of Canada now owns 82,897 shares of the industrial products company’s stock worth $3,101,000 after buying an additional 10,850 shares in the last quarter. Xact Kapitalforvaltning AB grew its holdings in Terex by 24.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 15,053 shares of the industrial products company’s stock worth $635,000 after buying an additional 3,000 shares in the last quarter. Bank of Montreal Can grew its holdings in Terex by 836.0% in the 2nd quarter. Bank of Montreal Can now owns 405,341 shares of the industrial products company’s stock worth $17,101,000 after buying an additional 362,037 shares in the last quarter. Delta Capital Management LLC bought a new position in Terex in the 2nd quarter worth approximately $212,000. Finally, Pendal Group Ltd grew its holdings in Terex by 66.5% in the 2nd quarter. Pendal Group Ltd now owns 52,629 shares of the industrial products company’s stock worth $2,220,000 after buying an additional 21,015 shares in the last quarter. 98.74% of the stock is owned by institutional investors and hedge funds.
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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