Robert W. Baird Increases Terex Corp. Price Target to $48.00 (TEX)
Equities research analysts at Robert W. Baird boosted their target price on shares of Terex Corp. (NYSE:TEX) from $42.00 to $48.00 in a research note issued to investors on Tuesday, ARN reports. Robert W. Baird’s price objective would indicate a potential upside of 20.27% from the stock’s previous close.
Several other analysts have also 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. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $39.00.
In other Terex Corp. news, Insider Timothy Ford sold 3,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $41.49, for a total transaction of $124,470.00. Following 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.
Terex Corp. (NYSE:TEX) traded up 0.35% on Tuesday, hitting $39.91. 1,198,922 shares of the company’s stock traded hands. Terex Corp. has a one year low of $25.60 and a one year high of $42.36. The stock’s 50-day moving average is $38.40 and its 200-day moving average is $33.23. The company has a market cap of $4.446 billion and a price-to-earnings ratio of 43.70.
Terex Corp. (NYSE:TEX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter 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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