Terex Corporation (TEX) Rating Reiterated by UBS AG
Terex Corporation (NYSE:TEX)‘s stock had its “buy” rating restated by stock analysts at UBS AG in a research report issued to clients and investors on Tuesday, www.flashratings.com reports. They presently have a $44.00 target price on the industrial products company’s stock, up from their previous target price of $40.00. UBS AG’s target price would indicate a potential upside of 12.27% from the company’s current price.
Several other research firms have also recently weighed in on TEX. Credit Suisse Group reiterated a “buy” rating and set a $38.00 price objective on shares of Terex Corporation in a research report on Thursday, April 13th. Barclays PLC increased their price objective on Terex Corporation from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 19th. BMO Capital Markets reiterated a “hold” rating and set a $35.00 price objective on shares of Terex Corporation in a research report on Thursday, April 20th. J P Morgan Chase & Co upgraded Terex Corporation from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $30.00 to $47.00 in a research report on Tuesday, April 25th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $33.00 price objective on shares of Terex Corporation in a research report on Wednesday, April 26th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $35.94.
Terex Corporation (NYSE:TEX) traded down 0.25% during trading on Tuesday, hitting $39.19. 964,898 shares of the stock were exchanged. The firm’s 50 day moving average price is $37.34 and its 200-day moving average price is $33.55. Terex Corporation has a 1-year low of $21.88 and a 1-year high of $39.99. The stock’s market cap is $3.75 billion.
Terex Corporation (NYSE:TEX) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the business earned $0.64 EPS. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, analysts anticipate that Terex Corporation will post $1.13 EPS for the current year.
Terex Corporation declared that its Board of Directors has approved a share buyback program on Tuesday, May 30th that authorizes the company to repurchase $280.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 8.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
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In related news, insider Kevin A. Barr sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $38.92, for a total value of $583,800.00. Following the sale, the insider now directly owns 143,304 shares of the company’s stock, valued at $5,577,391.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin Bradley sold 20,000 shares of Terex Corporation stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $32.56, for a total value of $651,200.00. Following the sale, the senior vice president now directly owns 79,612 shares in the company, valued at $2,592,166.72. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 1,224 shares of company stock worth $44,403 and sold 86,508 shares worth $3,085,841. 2.50% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. IndexIQ Advisors LLC purchased a new stake in shares of Terex Corporation during the second quarter worth approximately $565,000. 1060 Capital LLC purchased a new stake in shares of Terex Corporation during the second quarter worth approximately $25,739,000. Mirador Capital Partners LP raised its stake in shares of Terex Corporation by 4.5% in the second quarter. Mirador Capital Partners LP now owns 9,118 shares of the industrial products company’s stock worth $360,000 after buying an additional 394 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of Terex Corporation during the second quarter worth approximately $2,303,000. Finally, Prudential Financial Inc. raised its stake in shares of Terex Corporation by 156.4% in the second quarter. Prudential Financial Inc. now owns 271,282 shares of the industrial products company’s stock worth $10,173,000 after buying an additional 165,460 shares during the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.
Terex Corporation Company Profile
Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.
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