Terex (TEX) Given Sell Rating at Deutsche Bank
Deutsche Bank reiterated their sell rating on shares of Terex (NYSE:TEX) in a research report sent to investors on Wednesday morning, MarketBeat reports. Deutsche Bank currently has a $34.00 target price on the industrial products company’s stock.
Other research analysts have also issued research reports about the company. OTR Global lowered Terex to a positive rating in a research report on Tuesday, June 5th. ValuEngine downgraded Terex from a buy rating to a hold rating in a research note on Monday, July 30th. UBS Group set a $52.00 price objective on Terex and gave the company a buy rating in a research note on Wednesday, August 22nd. Wells Fargo & Co downgraded Terex from an outperform rating to a market perform rating in a research note on Thursday, July 19th. Finally, Goldman Sachs Group downgraded Terex from a neutral rating to a sell rating in a research note on Wednesday, June 13th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $44.92.
Shares of NYSE:TEX opened at $37.91 on Wednesday. Terex has a 1 year low of $35.30 and a 1 year high of $50.17. The company has a market cap of $2.82 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 0.57 and a beta of 1.57. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.19 and a current ratio of 2.11.
Terex declared that its board 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 purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Thursday, August 9th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.06%. The ex-dividend date is Wednesday, August 8th. Terex’s dividend payout ratio is currently 29.63%.
In other Terex news, VP Eric I. Cohen sold 12,502 shares of the firm’s stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $40.40, for a total value of $505,080.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steve Filipov sold 6,929 shares of the firm’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $38.85, for a total value of $269,191.65. The disclosure for this sale can be found here. Over the last three months, insiders purchased 1,079 shares of company stock valued at $45,136 and sold 50,645 shares valued at $2,043,999. 3.50% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Aperio Group LLC increased its stake in shares of Terex by 3.8% in the 2nd quarter. Aperio Group LLC now owns 79,091 shares of the industrial products company’s stock worth $3,337,000 after acquiring an additional 2,924 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Terex in the 1st quarter worth $1,973,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Terex in the 2nd quarter worth $822,000. Redwood Investment Management LLC increased its stake in shares of Terex by 216.0% in the 1st quarter. Redwood Investment Management LLC now owns 29,401 shares of the industrial products company’s stock worth $1,100,000 after acquiring an additional 20,096 shares during the last quarter. Finally, Affinity Investment Advisors LLC acquired a new stake in shares of Terex in the 2nd quarter worth $1,998,000. 98.80% of the stock is owned by institutional investors and hedge funds.
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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