Terex Insider Sells $93,600 in Stock (TEX)
Terex (NYSE:TEX) Insider Timothy A. Ford sold 2,500 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $37.44, for a total value of $93,600.00. Following the completion of the sale, the insider now directly owns 172,559 shares in the company, valued at approximately $6,460,609. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Terex (NYSE:TEX) traded up 0.35% on Thursday, hitting $37.13. The stock had a trading volume of 1,149,601 shares. Terex has a 52 week low of $29.29 and a 52 week high of $45.46. The stock has a 50-day moving average of $36.83 and a 200-day moving average of $40.22. The company has a market cap of $4.092 billion and a price-to-earnings ratio of 12.20.
Terex (NYSE:TEX) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.40. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts predict that Terex will post $2.57 earnings per share for the current fiscal year.
TEX has been the subject of a number of recent research reports. Analysts at ISI Group upgraded shares of Terex from a “neutral” rating to a “buy” rating in a research note on Thursday, August 7th. They now have a $42.00 price target on the stock, down previously from $44.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Terex in a research note on Monday, July 28th. They now have a $38.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Terex in a research note on Monday, July 28th. They now have a $40.00 price target on the stock, down previously from $50.00. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $45.00.
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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