Terex Corp. (NYSE:TEX) had its price objective upped by Deutsche Bank AG from $26.00 to $28.00 in a research report sent to investors on Wednesday morning. The firm currently has a hold rating on the stock.
Several other analysts also recently weighed in on TEX. Wells Fargo & Co. restated a buy rating on shares of Terex Corp. in a report on Wednesday, June 22nd. Zacks Investment Research upgraded Terex Corp. from a hold rating to a buy rating and set a $22.00 price objective for the company in a report on Tuesday, June 28th. Bank of America Corp. restated an underperform rating on shares of Terex Corp. in a report on Thursday, July 7th. Barclays PLC decreased their price objective on Terex Corp. from $25.00 to $20.00 and set an equal weight rating for the company in a report on Monday, July 11th. Finally, Stifel Nicolaus set a $29.00 price objective on Terex Corp. and gave the company a buy rating in a report on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Terex Corp. has an average rating of Hold and an average price target of $24.50.
Terex Corp. (NYSE:TEX) opened at 25.14 on Wednesday. Terex Corp. has a 1-year low of $13.62 and a 1-year high of $25.85. The firm’s 50-day moving average is $24.32 and its 200 day moving average is $23.24. The company has a market cap of $2.73 billion, a PE ratio of 50.89 and a beta of 2.93.
Terex Corp. (NYSE:TEX) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.10. The firm earned $1.30 billion during the quarter, compared to the consensus estimate of $1.61 billion. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. Analysts predict that Terex Corp. will post $0.96 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Thursday, November 10th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Tuesday, November 8th. Terex Corp.’s payout ratio is presently 57.14%.
In other Terex Corp. news, Director G Chris Andersen sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $24.02, for a total value of $480,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew Fearon sold 3,632 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $24.69, for a total value of $89,674.08. Following the completion of the transaction, the insider now directly owns 111,114 shares of the company’s stock, valued at $2,743,404.66. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BOKF NA increased its position in shares of Terex Corp. by 97.1% in the second quarter. BOKF NA now owns 5,237 shares of the company’s stock valued at $107,000 after buying an additional 2,580 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Terex Corp. by 70.2% in the second quarter. LS Investment Advisors LLC now owns 6,648 shares of the company’s stock valued at $135,000 after buying an additional 2,743 shares during the last quarter. Creative Planning increased its position in shares of Terex Corp. by 13.2% in the second quarter. Creative Planning now owns 8,600 shares of the company’s stock valued at $175,000 after buying an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Terex Corp. by 3.8% in the second quarter. PNC Financial Services Group Inc. now owns 8,875 shares of the company’s stock valued at $182,000 after buying an additional 323 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Terex Corp. during the second quarter valued at $200,000. 80.77% of the stock is owned by institutional investors and hedge funds.
About Terex Corp.
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.
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