Terex (TEX) Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Terex (NYSE:TEX) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Other equities analysts also recently issued reports about the stock. Deutsche Bank reaffirmed a sell rating and issued a $34.00 target price on shares of Terex in a research note on Wednesday, September 5th. UBS Group set a $52.00 target price on shares of Terex and gave the stock a buy rating in a research note on Wednesday, August 22nd. Robert W. Baird raised shares of Terex from an underperform rating to a neutral rating and set a $38.00 target price for the company in a research note on Monday, August 20th. BMO Capital Markets dropped their target price on shares of Terex to $35.00 and set a market perform rating for the company in a research note on Monday, November 19th. Finally, Morgan Stanley dropped their target price on shares of Terex from $46.00 to $42.00 and set a hold rating for the company in a research note on Monday, November 5th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $40.83.

Shares of NYSE TEX traded down $1.27 during trading on Friday, reaching $28.35. The company had a trading volume of 1,704,520 shares, compared to its average volume of 1,225,094. Terex has a 52 week low of $27.97 and a 52 week high of $50.17. The company has a market cap of $2.18 billion, a PE ratio of 21.00, a P/E/G ratio of 0.31 and a beta of 1.61. The company has a current ratio of 2.22, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16.

Terex (NYSE:TEX) last announced its earnings results on Thursday, November 1st. The industrial products company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.07). Terex had a return on equity of 18.86% and a net margin of 2.42%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm posted $0.50 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts forecast that Terex will post 2.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Friday, November 9th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, November 8th. Terex’s dividend payout ratio (DPR) is 29.63%.

In related news, insider Kevin A. Barr sold 11,937 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $38.43, for a total transaction of $458,738.91. Following the completion of the sale, the insider now directly owns 101,980 shares of the company’s stock, valued at $3,919,091.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Eric I. Cohen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $39.01, for a total transaction of $390,100.00. Following the sale, the vice president now directly owns 182,905 shares of the company’s stock, valued at $7,135,124.05. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 852 shares of company stock valued at $30,092. 3.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Belpointe Asset Management LLC acquired a new position in Terex during the third quarter valued at approximately $144,000. Nordea Investment Management AB acquired a new position in Terex during the third quarter valued at approximately $5,049,000. TIAA CREF Investment Management LLC grew its holdings in Terex by 116.3% during the third quarter. TIAA CREF Investment Management LLC now owns 6,096,257 shares of the industrial products company’s stock valued at $243,302,000 after purchasing an additional 3,277,715 shares during the period. Neuberger Berman Group LLC acquired a new position in Terex during the third quarter valued at approximately $212,000. Finally, Glenmede Trust Co. NA grew its holdings in Terex by 5,975.3% during the third quarter. Glenmede Trust Co. NA now owns 11,300 shares of the industrial products company’s stock valued at $450,000 after purchasing an additional 11,114 shares during the period.

About Terex

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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