Terex Co. (NYSE:TEX) has been given an average recommendation of “Hold” by the nineteen analysts that are currently covering the company. Three analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $29.64.
Several equities analysts recently issued reports on TEX shares. Citigroup Inc started coverage on Terex in a research note on Monday, February 6th. They set a “neutral” rating and a $36.00 price objective on the stock. Zacks Investment Research raised Terex from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Tuesday, February 14th. Credit Suisse Group AG set a $38.00 target price on Terex and gave the stock a “buy” rating in a research report on Saturday, February 25th. Deutsche Bank AG raised Terex from a “hold” rating to a “buy” rating and increased their target price for the stock from $36.00 to $37.00 in a research report on Monday, February 27th. Finally, OTR Global raised Terex to a “positive” rating in a research report on Friday, March 17th.
In other Terex news, SVP Kevin Bradley sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $33.00, for a total transaction of $330,000.00. Following the completion of the sale, the senior vice president now directly owns 99,612 shares in the company, valued at approximately $3,287,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steve Filipov sold 5,215 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $30.14, for a total value of $157,180.10. Following the completion of the transaction, the insider now directly owns 137,425 shares in the company, valued at $4,141,989.50. The disclosure for this sale can be found here. In the last quarter, insiders purchased 472 shares of company stock valued at $14,999 and sold 60,215 shares valued at $1,880,330. Company insiders own 3.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in TEX. Emerald Acquisition Ltd. raised its stake in shares of Terex by 94.3% in the third quarter. Emerald Acquisition Ltd. now owns 870,361 shares of the industrial products company’s stock valued at $22,116,000 after buying an additional 422,416 shares during the last quarter. Morgan Stanley raised its stake in shares of Terex by 7.6% in the third quarter. Morgan Stanley now owns 7,788,678 shares of the industrial products company’s stock valued at $197,911,000 after buying an additional 551,571 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Terex by 9.4% in the third quarter. Rhumbline Advisers now owns 286,991 shares of the industrial products company’s stock valued at $7,292,000 after buying an additional 24,688 shares in the last quarter. BlackRock Inc. raised its stake in shares of Terex by 123.7% in the third quarter. BlackRock Inc. now owns 158,380 shares of the industrial products company’s stock valued at $4,024,000 after buying an additional 87,573 shares in the last quarter. Finally, Shelton Capital Management raised its stake in shares of Terex by 128.9% in the fourth quarter. Shelton Capital Management now owns 26,000 shares of the industrial products company’s stock valued at $358,000 after buying an additional 14,640 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.
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Terex (NYSE:TEX) traded down 1.05% on Tuesday, hitting $32.11. 583,344 shares of the company traded hands. The firm’s market capitalization is $3.40 billion. Terex has a 12 month low of $18.91 and a 12 month high of $33.87. The stock’s 50-day moving average is $31.13 and its 200 day moving average is $29.78.
Terex (NYSE:TEX) last announced its quarterly earnings data on Tuesday, February 21st. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.12. Terex had a return on equity of 7.39% and a net margin of 2.01%. The firm had revenue of $974.70 million for the quarter, compared to analysts’ expectations of $918.81 million. During the same period last year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. Equities analysts forecast that Terex will post $0.82 EPS for the current fiscal year.
Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.
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