Terex Shares Down 3.9% After Insider Selling (TEX)
Terex (NYSE:TEX) shares traded down 3.9% during trading on Friday following insider selling activity, Analyst Ratings Net reports. The company traded as low as $41.02 and last traded at $41.13, with a volume of 1,544,229 shares trading hands. The stock had previously closed at $42.82.
Specifically, Insider Timothy A. Ford unloaded 3,000 shares of the stock on the open market in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $42.50, for a total value of $127,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
TEX has been the subject of a number of recent research reports. Analysts at Barclays reiterated an “overweight” rating on shares of Terex in a research note on Friday. They now have a $50.00 price target on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Terex from $51.00 to $55.00 in a research note on Friday. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Terex from $40.00 to $42.00 in a research note on Thursday, April 10th. They now have a “neutral” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Terex presently has a consensus rating of “Hold” and a consensus target price of $45.64.
The stock has a 50-day moving average of $42.32 and a 200-day moving average of $39.90. The company has a market cap of $4.524 billion and a P/E ratio of 22.13.
Terex (NYSE:TEX) last announced its earnings results on Wednesday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.07. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.70 billion. On average, analysts predict that Terex will post $2.76 earnings per share 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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