Terex Corp. Coverage Initiated at Jefferies Group (TEX)
Research analysts at Jefferies Group began coverage on shares of Terex Corp. (NYSE:TEX) in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
TEX has been the subject of a number of other recent research reports. Analysts at Robert W. Baird raised their price target on shares of Terex Corp. from $42.00 to $48.00 in a research note to investors on Tuesday. Separately, 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. Finally, 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. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Terex Corp. presently has an average rating of “Hold” and an average price target of $39.00.
In other Terex Corp. news, Insider Timothy Ford unloaded 3,000 shares of Terex Corp. stock on the open market in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $41.49, for a total transaction of $124,470.00. Following the transaction, the insider now directly owns 188,485 shares in the company, valued at approximately $7,820,243. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Terex Corp. (NYSE:TEX) traded up 0.35% on Tuesday, hitting $39.91. The stock had a trading volume of 1,198,922 shares. Terex Corp. has a 52 week low of $25.60 and a 52 week high of $42.36. The stock has a 50-day moving average of $38.40 and a 200-day moving average of $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 announced its earnings results 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 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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