Terex (NYSE:TEX) had its target price lifted by Morgan Stanley from $43.00 to $47.00 in a research note published on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.
A number of other equities research analysts have also recently commented on TEX. JPMorgan Chase & Co. raised their price objective on shares of Terex from $42.00 to $48.00 and gave the stock a neutral rating in a research note on Wednesday, April 14th. They noted that the move was a valuation call. UBS Group raised shares of Terex from a neutral rating to a buy rating and raised their price objective for the stock from $45.00 to $60.00 in a research note on Friday, April 16th. Citigroup raised their price objective on shares of Terex from $46.00 to $55.00 in a research note on Tuesday, March 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Terex from $40.00 to $51.00 and gave the stock a hold rating in a research note on Tuesday, April 13th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on shares of Terex from $46.00 to $55.00 in a research note on Tuesday, March 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Terex has a consensus rating of Hold and an average price target of $42.47.
Shares of NYSE:TEX opened at $46.18 on Monday. Terex has a twelve month low of $11.54 and a twelve month high of $50.09. The company’s 50 day moving average is $45.69 and its 200 day moving average is $36.51. The company has a current ratio of 2.59, a quick ratio of 1.65 and a debt-to-equity ratio of 1.37. The company has a market cap of $3.22 billion, a PE ratio of -769.67 and a beta of 1.55.
Terex (NYSE:TEX) last issued its quarterly earnings results on Wednesday, February 10th. The industrial products company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.19. Terex had a negative net margin of 0.12% and a positive return on equity of 2.35%. The company had revenue of $786.70 million for the quarter, compared to the consensus estimate of $754.86 million. During the same quarter in the prior year, the company earned $0.36 EPS. Equities research analysts predict that Terex will post -0.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Stockholders of record on Friday, March 5th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, March 4th. Terex’s dividend payout ratio is presently 14.77%.
In other news, VP Amy George sold 10,000 shares of the business’s stock in a transaction dated Friday, March 12th. The stock was sold at an average price of $47.00, for a total transaction of $470,000.00. Following the completion of the transaction, the vice president now directly owns 98,232 shares of the company’s stock, valued at $4,616,904. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John L. Garrison, Jr. sold 53,020 shares of the business’s stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $40.16, for a total value of $2,129,283.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,104 shares of company stock valued at $6,969,687. Corporate insiders own 3.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Terex by 4.2% during the fourth quarter. BlackRock Inc. now owns 7,718,852 shares of the industrial products company’s stock worth $269,311,000 after purchasing an additional 314,097 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Terex by 17.6% during the fourth quarter. Nuveen Asset Management LLC now owns 4,584,953 shares of the industrial products company’s stock worth $159,968,000 after purchasing an additional 686,118 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Terex by 29.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,642,890 shares of the industrial products company’s stock worth $57,320,000 after purchasing an additional 373,370 shares during the last quarter. Northern Trust Corp lifted its stake in Terex by 27.6% during the fourth quarter. Northern Trust Corp now owns 1,322,644 shares of the industrial products company’s stock worth $46,147,000 after purchasing an additional 285,864 shares during the last quarter. Finally, SummerHaven Investment Management LLC purchased a new stake in Terex during the fourth quarter worth approximately $802,000. Hedge funds and other institutional investors own 83.84% of the company’s stock.
Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. The company operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment designs, manufactures, services, and markets aerial work platform equipment, utility equipment, and telehandlers principally under the Terex and Genie brand names.
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