Terex Corp. (TEX) PT Raised to $28.00 at Deutsche Bank AG
Terex Corp. (NYSE:TEX) had its target price raised by research analysts at Deutsche Bank AG from $26.00 to $28.00 in a research report issued on Wednesday. The firm presently has a “hold” rating on the stock. Deutsche Bank AG’s price target indicates a potential upside of 16.04% from the stock’s current price.
Several other brokerages also recently issued reports on TEX. BMO Capital Markets reissued a “hold” rating and issued a $24.00 price target on shares of Terex Corp. in a report on Monday, August 29th. Morgan Stanley reissued a “hold” rating and issued a $21.00 price target on shares of Terex Corp. in a report on Friday, September 16th. Jefferies Group downgraded Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a report on Tuesday, August 9th. They noted that the move was a valuation call. Zacks Investment Research downgraded Terex Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 4th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Terex Corp. in a report on Wednesday, June 22nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.22.
Terex Corp. (NYSE:TEX) traded down 0.98% during mid-day trading on Wednesday, reaching $24.13. The company’s stock had a trading volume of 651,390 shares. Terex Corp. has a 52 week low of $13.62 and a 52 week high of $25.66. The firm has a market capitalization of $2.62 billion, a P/E ratio of 48.85 and a beta of 2.93. The firm’s 50 day moving average price is $24.28 and its 200 day moving average price is $23.24.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/terex-corp-tex-pt-raised-to-28-00-at-deutsche-bank-ag.html
Terex Corp. (NYSE:TEX) last released its earnings results on Tuesday, August 2nd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the business posted $0.78 EPS. Terex Corp.’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, analysts anticipate that Terex Corp. will post $0.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Wednesday, August 10th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Monday, August 8th. Terex Corp.’s payout ratio is 57.14%.
In other news, insider Kevin A. Barr sold 10,000 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $23.75, for a total value of $237,500.00. Following the completion of the sale, the insider now owns 153,788 shares of the company’s stock, valued at $3,652,465. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steve Filipov sold 8,929 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $24.20, for a total value of $216,081.80. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Pzena Investment Management LLC boosted its stake in shares of Terex Corp. by 49.1% in the second quarter. Pzena Investment Management LLC now owns 7,164,504 shares of the company’s stock valued at $145,511,000 after buying an additional 2,359,735 shares during the period. Prudential Financial Inc. boosted its stake in Terex Corp. by 2,882.0% in the second quarter. Prudential Financial Inc. now owns 1,992,054 shares of the company’s stock worth $40,459,000 after buying an additional 1,925,252 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Terex Corp. by 105.3% in the second quarter. TIAA CREF Investment Management LLC now owns 3,191,643 shares of the company’s stock worth $64,822,000 after buying an additional 1,636,964 shares during the last quarter. Schroder Investment Management Group purchased a new stake in Terex Corp. during the second quarter worth about $23,860,000. Finally, Highline Capital Management L.P. purchased a new stake in Terex Corp. during the second quarter worth about $14,572,000. 81.01% of the stock is owned by institutional investors and hedge funds.
About Terex Corp.
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.
Receive News & Ratings for Terex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corp. and related companies with MarketBeat.com's FREE daily email newsletter.