Brokerages Set Terex Corporation (TEX) Target Price at $41.93
Terex Corporation (NYSE:TEX) has been assigned a consensus recommendation of “Hold” from the eighteen analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $41.93.
A number of research firms have weighed in on TEX. UBS AG reiterated a “buy” rating and set a $44.00 price objective (up previously from $40.00) on shares of Terex Corporation in a research note on Wednesday, August 2nd. Deutsche Bank AG set a $44.00 price objective on Terex Corporation and gave the company a “buy” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reiterated a “hold” rating and set a $38.00 price objective on shares of Terex Corporation in a research note on Wednesday, September 13th. TheStreet upgraded Terex Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. Finally, BMO Capital Markets reiterated a “hold” rating and set a $35.00 price objective on shares of Terex Corporation in a research note on Monday, August 21st.
In other Terex Corporation news, VP Eric I. Cohen sold 8,892 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $39.50, for a total value of $351,234.00. Following the completion of the transaction, the vice president now owns 196,280 shares in the company, valued at $7,753,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Eric I. Cohen sold 10,000 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the transaction, the vice president now owns 195,980 shares of the company’s stock, valued at approximately $8,819,100. The disclosure for this sale can be found here. In the last three months, insiders acquired 1,204 shares of company stock worth $51,805 and sold 51,723 shares worth $2,171,476. 2.50% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Sei Investments Co. grew its stake in shares of Terex Corporation by 19.5% during the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 619 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Terex Corporation by 450.2% during the third quarter. Pacer Advisors Inc. now owns 4,446 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 3,638 shares in the last quarter. Invictus RG grew its stake in shares of Terex Corporation by 95.4% during the third quarter. Invictus RG now owns 4,618 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 2,255 shares in the last quarter. Clear Perspective Advisors LLC acquired a new position in shares of Terex Corporation during the second quarter worth $198,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Terex Corporation by 7.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 89.20% of the company’s stock.
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Shares of Terex Corporation (NYSE TEX) traded up $0.18 on Friday, hitting $45.29. The stock had a trading volume of 721,625 shares, compared to its average volume of 1,200,000. Terex Corporation has a 12-month low of $28.62 and a 12-month high of $48.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.53 and a current ratio of 2.42. The stock has a market cap of $4,050.00, a price-to-earnings ratio of 40.39, a PEG ratio of 3.15 and a beta of 1.89.
Terex Corporation (NYSE:TEX) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.36 by $0.14. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.03 billion. Terex Corporation had a positive return on equity of 7.01% and a negative net margin of 2.62%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 EPS. research analysts forecast that Terex Corporation will post 1.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Thursday, November 9th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Wednesday, November 8th. Terex Corporation’s payout ratio is presently -16.67%.
Terex Corporation announced that its Board of Directors has initiated a share repurchase plan on Wednesday, September 6th that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Terex Corporation Company Profile
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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