Terex Corp. Rating Increased to Outperform at Zacks (TEX)
Terex Corp. (NYSE:TEX) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday, Stock Ratings News reports. The firm currently has a $50.00 price objective on the stock. Zacks‘ price objective indicates a potential upside of 18.88% from the stock’s previous close.
Zacks‘ analyst wrote, “Terex’s adjusted earnings for third-quarter 2013 grew 24% year over year to $0.77 per share, due to a reduced interest expense and a lower effective tax rate. The company will continue to benefit from replacement demand in the AWP segment while improved Port business and realization of restructuring benefits will improve results in the MHPS segment. Terex’s decision to divest its truck business will be a positive. Furthermore, Terex’s initiation of dividend and share repurchases will enhance shareholders’ value. We have, thus, upgraded our recommendation from Neutral to Outperform on Terex with a target price of $50.”
Shares of Terex Corp. (NYSE:TEX) traded up 0.27% on Friday, hitting $42.175. 522,682 shares of the company’s stock traded hands. Terex Corp. has a 52-week low of $25.60 and a 52-week high of $42.82. The stock’s 50-day moving average is $39. and its 200-day moving average is $33.89. The company has a market cap of $4.698 billion and a price-to-earnings ratio of 46.22.
Terex Corp. (NYSE:TEX) last announced its earnings results on Thursday, October 24th. The company reported $0.62 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.62 earnings per share. Terex Corp.’s revenue was down .7% compared to the same quarter last year. Analysts expect that Terex Corp. will post $2.13 EPS for the current fiscal year.
TEX has been the subject of a number of other recent research reports. Analysts at Barclays raised their price target on shares of Terex Corp. from $40.00 to $51.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of Terex Corp. in a research note to investors on Tuesday, January 7th. They set a “hold” rating on the stock. Finally, 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, January 7th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.18.
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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