Terex Corp. (NYSE:TEX) was upgraded by analysts at Bank of America Corp. from an “underperform” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $29.00 price target on the stock, up from their prior price target of $21.00. Bank of America Corp.’s price objective would indicate a potential upside of 17.55% from the company’s current price.
Several other research firms also recently weighed in on TEX. BMO Capital Markets reissued a “hold” rating and set a $24.00 target price on shares of Terex Corp. in a research report on Monday, August 29th. Morgan Stanley reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Terex Corp. in a research report on Friday, September 16th. Deutsche Bank AG upped their price objective on Terex Corp. from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Wednesday, October 12th. Jefferies Group downgraded Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research report on Tuesday, August 9th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Terex Corp. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Terex Corp. currently has a consensus rating of “Hold” and an average target price of $24.50.
Terex Corp. (NYSE:TEX) opened at 24.67 on Friday. The company has a market capitalization of $2.68 billion, a P/E ratio of 49.94 and a beta of 2.93. Terex Corp. has a one year low of $13.62 and a one year high of $25.85. The stock’s 50 day moving average price is $24.33 and its 200 day moving average price is $23.21.
Terex Corp. (NYSE:TEX) last released its earnings results on Tuesday, August 2nd. The company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.10. The firm had revenue of $1.30 billion for 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 company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. Equities analysts anticipate that Terex Corp. will post $0.96 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Thursday, November 10th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, November 8th. Terex Corp.’s dividend payout ratio (DPR) is presently 57.14%.
In other news, insider Matthew Fearon sold 3,632 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $24.69, for a total value of $89,674.08. Following the transaction, the insider now directly owns 111,114 shares of the company’s stock, valued at $2,743,404.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steve Filipov sold 8,929 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $24.20, for a total value of $216,081.80. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its position in shares of Terex Corp. by 0.8% in the third quarter. Nisa Investment Advisors LLC now owns 76,620 shares of the company’s stock worth $1,947,000 after buying an additional 600 shares in the last quarter. Creative Planning raised its position in shares of Terex Corp. by 3.1% in the third quarter. Creative Planning now owns 8,864 shares of the company’s stock worth $225,000 after buying an additional 264 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Terex Corp. by 3.5% in the third quarter. Fisher Asset Management LLC now owns 441,605 shares of the company’s stock worth $11,221,000 after buying an additional 15,043 shares in the last quarter. Triangle Securities Wealth Management purchased a new position in shares of Terex Corp. during the third quarter worth $217,000. Finally, Northwestern Mutual Investment Management Company LLC raised its position in shares of Terex Corp. by 0.6% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 18,852 shares of the company’s stock worth $383,000 after buying an additional 116 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.
Terex Corp. Company Profile
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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