Terex (NYSE:TEX) Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Terex (NYSE:TEX) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

Several other equities research analysts have also issued reports on the stock. Citigroup decreased their price target on shares of Terex from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Barclays decreased their price target on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Baird R W raised shares of Terex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Morgan Stanley decreased their price target on shares of Terex from $43.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Terex from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Terex has a consensus rating of “Hold” and an average price target of $49.40.

Terex Price Performance

TEX stock opened at $44.61 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. Terex has a 12 month low of $31.53 and a 12 month high of $68.08. The firm has a market cap of $2.96 billion, a P/E ratio of 8.99, a P/E/G ratio of 4.53 and a beta of 1.52. The company’s 50-day moving average price is $38.82 and its two-hundred day moving average price is $44.39.

Terex (NYSE:TEX) last released its earnings results on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.57 by $0.26. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.26 billion. Terex had a net margin of 6.54% and a return on equity of 21.99%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.60 EPS. On average, analysts anticipate that Terex will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, June 6th. This represents a $0.68 annualized dividend and a yield of 1.52%. Terex’s dividend payout ratio is presently 18.53%.

Insider Transactions at Terex

In other news, Director Andra Rush purchased 1,325 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the transaction, the director now owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This trade represents a 6.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joshua Gross sold 5,389 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the completion of the transaction, the insider now owns 38,755 shares in the company, valued at $1,579,266.25. This trade represents a 12.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC lifted its position in shares of Terex by 47.4% during the 1st quarter. Intech Investment Management LLC now owns 45,501 shares of the industrial products company’s stock valued at $1,719,000 after acquiring an additional 14,629 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Terex by 0.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 195,210 shares of the industrial products company’s stock valued at $7,375,000 after acquiring an additional 1,597 shares during the period. Optimize Financial Inc acquired a new position in shares of Terex during the 1st quarter valued at $212,000. Zimmer Partners LP lifted its position in shares of Terex by 38.9% during the 1st quarter. Zimmer Partners LP now owns 250,000 shares of the industrial products company’s stock valued at $9,445,000 after acquiring an additional 70,000 shares during the period. Finally, Ashton Thomas Private Wealth LLC lifted its position in shares of Terex by 13.5% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 15,781 shares of the industrial products company’s stock valued at $596,000 after acquiring an additional 1,871 shares during the period. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Company Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.