Terex Corp. (TEX) Upgraded at Bank of America Corp.
Terex Corp. (NYSE:TEX) was upgraded by Bank of America Corp. from an “underperform” rating to a “buy” rating in a report released on Friday, The Fly reports.
TEX has been the subject of a number of other reports. Zacks Investment Research cut shares of Terex Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 8th. Morgan Stanley reaffirmed a “hold” rating and issued a $21.00 target price on shares of Terex Corp. in a report on Friday, September 16th. Stifel Nicolaus set a $29.00 target price on shares of Terex Corp. and gave the company a “buy” rating in a report on Wednesday, August 3rd. JPMorgan Chase & Co. set a $20.00 target price on shares of Terex Corp. and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Jefferies Group cut shares of Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a report on Tuesday, August 9th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Terex Corp. currently has a consensus rating of “Hold” and an average target price of $24.22.
Terex Corp. (NYSE:TEX) opened at 23.89 on Friday. The company has a 50-day moving average price of $24.28 and a 200-day moving average price of $23.24. The firm has a market capitalization of $2.59 billion, a PE ratio of 48.36 and a beta of 2.93. Terex Corp. has a 12-month low of $13.62 and a 12-month high of $25.66.
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Terex Corp. (NYSE:TEX) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.10. The firm earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Terex Corp. had a net margin of 0.92% and a return on equity of 9.63%. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. On average, analysts predict that Terex Corp. will post $0.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Thursday, November 10th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.17%. Terex Corp.’s dividend payout ratio (DPR) is currently 57.14%.
In other Terex Corp. news, insider Matthew Fearon sold 3,632 shares of Terex Corp. stock in a transaction on Friday, September 9th. The shares were sold at an average price of $24.69, for a total value of $89,674.08. Following the transaction, the insider now owns 111,114 shares in the company, valued at approximately $2,743,404.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director G Chris Andersen sold 20,000 shares of Terex Corp. stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $24.02, for a total transaction of $480,400.00. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in TEX. BNP Paribas Arbitrage SA raised its position in shares of Terex Corp. by 9.4% in the second quarter. BNP Paribas Arbitrage SA now owns 50,956 shares of the company’s stock worth $1,035,000 after buying an additional 4,362 shares during the period. Seven Eight Capital LLC bought a new position in shares of Terex Corp. during the first quarter worth $443,000. Mountain Lake Investment Management LLC bought a new position in shares of Terex Corp. during the first quarter worth $622,000. Springbok Capital Management LLC raised its position in shares of Terex Corp. by 1,939.5% in the first quarter. Springbok Capital Management LLC now owns 28,553 shares of the company’s stock worth $710,000 after buying an additional 27,153 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Terex Corp. during the first quarter worth $11,101,000. Institutional investors own 81.01% of the company’s stock.
Terex Corp. Company Profile
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.
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