Insider Selling: Terex Corp. Insider Sells 3,000 Shares of Stock (TEX)
Terex Corp. (NYSE:TEX) Insider Timothy Ford unloaded 3,000 shares of Terex Corp. stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $41.49, for a total transaction of $124,470.00. Following the completion of the sale, the insider now directly owns 188,485 shares in the company, valued at approximately $7,820,243. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at ISI Group downgraded shares of Terex Corp. from a “strong-buy” rating to a “neutral” rating in a research note to investors on Thursday, November 7th. They now have a $39.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Terex Corp. in a research note to investors on Tuesday, October 29th. They now have a $37.00 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Terex Corp. from $37.00 to $40.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.45.
Shares of Terex Corp. (NYSE:TEX) traded down 3.66% during mid-day trading on Monday, hitting $39.77. 2,088,677 shares of the company’s stock traded hands. Terex Corp. has a 1-year low of $25.60 and a 1-year high of $42.36. The stock has a 50-day moving average of $38.11 and a 200-day moving average of $33.00. The company has a market cap of $4.430 billion and a price-to-earnings ratio of 45.36.
Terex Corp. (NYSE:TEX) last released its earnings data on Thursday, October 24th. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.60 by $0.02. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. Analysts expect that Terex Corp. will post $2.13 EPS for the current fiscal year.
Terex Corporation is a diversified global equipment manufacturer of machinery products. The Company is focused on delivering reliable, customer-driven solutions for a wide range of commercial applications, including the construction, infrastructure, quarrying, mining, manufacturing, shipping, transportation, refining, energy and utility industries.
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