ValuEngine Downgrades Terex (TEX) to Strong Sell

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Terex (NYSE:TEX) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

Several other research firms have also commented on TEX. Wells Fargo & Co lowered shares of Terex from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 19th. Longbow Research started coverage on shares of Terex in a research note on Friday, October 12th. They set a “neutral” rating for the company. Jefferies Financial Group raised shares of Terex from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Zacks Investment Research raised shares of Terex from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. Finally, Robert W. Baird lowered shares of Terex from a “neutral” rating to an “underperform” rating and set a $38.00 target price for the company. in a research note on Tuesday, July 10th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.50.

Shares of NYSE:TEX traded down $1.31 during trading on Friday, reaching $33.18. The company had a trading volume of 1,615,200 shares, compared to its average volume of 1,434,987. The firm has a market cap of $2.72 billion, a P/E ratio of 24.58, a P/E/G ratio of 0.54 and a beta of 1.52. Terex has a twelve month low of $33.03 and a twelve month high of $50.17. The company has a current ratio of 2.11, a quick ratio of 1.19 and a debt-to-equity ratio of 1.15.

Terex (NYSE:TEX) last issued its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.40 billion. Terex had a net margin of 2.91% and a return on equity of 16.66%. Equities research analysts forecast that Terex will post 2.92 EPS for the current year.

Terex announced that its Board of Directors has approved a stock buyback plan on Thursday, July 12th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the industrial products company to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

In related news, insider Steve Filipov sold 6,929 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $38.85, for a total value of $269,191.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Eric I. Cohen sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $39.01, for a total transaction of $390,100.00. Following the completion of the sale, the vice president now owns 182,905 shares of the company’s stock, valued at approximately $7,135,124.05. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 1,344 shares of company stock valued at $52,633 and sold 38,866 shares valued at $1,514,531. 3.50% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Delta Capital Management LLC purchased a new stake in shares of Terex in the 2nd quarter valued at approximately $212,000. Lido Advisors LLC purchased a new stake in shares of Terex in the 2nd quarter valued at approximately $246,000. Strs Ohio purchased a new stake in shares of Terex in the 2nd quarter valued at approximately $307,000. Pinnacle Associates Ltd. lifted its position in shares of Terex by 32.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 8,170 shares of the industrial products company’s stock valued at $345,000 after acquiring an additional 2,001 shares in the last quarter. Finally, GAM Holding AG purchased a new stake in shares of Terex in the 2nd quarter valued at approximately $360,000. Institutional investors and hedge funds own 98.76% of the company’s stock.

Terex Company Profile

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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Analyst Recommendations for Terex (NYSE:TEX)

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