Terex (TEX) Rating Reiterated by Evercore ISI
Evercore ISI reaffirmed their in-line rating on shares of Terex (NYSE:TEX) in a report published on Friday, BenzingaRatingsTable reports. The firm currently has a $31.00 price target on the industrial products company’s stock, down from their previous price target of $40.00.
Several other analysts also recently weighed in on the company. UBS Group downgraded Terex from a buy rating to a neutral rating and cut their price target for the stock from $50.00 to $37.00 in a research note on Tuesday, April 23rd. Bank of America restated an underperform rating and issued a $28.00 price target (down previously from $33.00) on shares of Terex in a research note on Thursday, May 2nd. Morgan Stanley reiterated a hold rating on shares of Terex in a research note on Tuesday, February 26th. Credit Suisse Group increased their target price on Terex from $37.00 to $39.00 and gave the company an outperform rating in a research note on Tuesday, February 26th. Finally, Wells Fargo & Co increased their target price on Terex from $32.00 to $37.00 and gave the company a market perform rating in a research note on Tuesday, February 26th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $35.92.
Terex stock opened at $26.80 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.41 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $1.91 billion, a P/E ratio of 9.89, a P/E/G ratio of 0.75 and a beta of 1.72. Terex has a twelve month low of $25.47 and a twelve month high of $45.47.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.11 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.44 annualized dividend and a yield of 1.64%. Terex’s dividend payout ratio is 16.24%.
In other Terex news, Director International Master F. Marcato sold 1,100,000 shares of the stock in a transaction on Friday, March 29th. The stock was sold at an average price of $31.54, for a total transaction of $34,694,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders have acquired 1,650 shares of company stock worth $53,474. Company insiders own 4.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. lifted its holdings in shares of Terex by 0.3% during the 4th quarter. American International Group Inc. now owns 132,253 shares of the industrial products company’s stock valued at $3,646,000 after buying an additional 357 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Terex by 4.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 9,500 shares of the industrial products company’s stock valued at $262,000 after buying an additional 425 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Terex by 1.4% during the 4th quarter. Natixis Advisors L.P. now owns 32,407 shares of the industrial products company’s stock valued at $893,000 after buying an additional 442 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Terex by 0.4% during the 4th quarter. Nordea Investment Management AB now owns 126,963 shares of the industrial products company’s stock valued at $3,500,000 after buying an additional 472 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Terex by 1.1% during the 4th quarter. Arizona State Retirement System now owns 46,550 shares of the industrial products company’s stock valued at $1,283,000 after buying an additional 499 shares during the period. 90.82% of the stock is currently owned by hedge funds and other institutional investors.
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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