Terex Corporation (NYSE:TEX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $51.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.06% from the company’s current price.

According to Zacks, “Terex will continue to benefit from progress on capital allocation strategy. Its focus on portfolio restructuring and cost-saving initiatives is likely to boost results in the near term. Terex has sold its remaining shares in Konecranes and received approximately $773 million for the sale of the 19.6 million shares of Konecranes. This brings the total consideration received for the disposition of the Material Handling & Port Solution segment to $1.6 billion. The sale of the segment was in sync with efforts to simplify structure in a bid to improve efficiency and enhance global competitiveness. The stock outperformed the industry over the past year. The company has a mixed record of earnings surprises in the last few quarters.”

TEX has been the topic of several other reports. BMO Capital Markets restated a “hold” rating and set a $35.00 price target on shares of Terex Corporation in a research report on Monday, August 21st. Goldman Sachs Group, Inc. (The) lowered Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Thursday, June 15th. Deutsche Bank AG set a $44.00 price target on Terex Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada restated a “hold” rating and set a $38.00 price target on shares of Terex Corporation in a research report on Wednesday, September 13th. Finally, TheStreet upgraded Terex Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Terex Corporation currently has an average rating of “Hold” and a consensus price target of $39.71.

Shares of Terex Corporation (TEX) traded up 0.92% during trading on Wednesday, hitting $45.93. The company had a trading volume of 461,948 shares. The company’s 50 day moving average is $41.93 and its 200 day moving average is $36.91. The firm’s market capitalization is $4.11 billion. Terex Corporation has a 1-year low of $21.88 and a 1-year high of $46.68.

Terex Corporation (NYSE:TEX) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The firm’s revenue was down 8.9% on a year-over-year basis. Analysts anticipate that Terex Corporation will post $1.15 earnings per share for the current fiscal year.

Terex Corporation declared that its board has authorized a stock buyback program on Wednesday, September 6th that allows the company to repurchase $225.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: This story was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/10/11/terex-corporation-tex-upgraded-by-zacks-investment-research-to-buy.html.

In other news, insider Kevin A. Barr sold 2,682 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $43.05, for a total value of $115,460.10. Following the completion of the transaction, the insider now owns 126,762 shares in the company, valued at $5,457,104.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eric I. Cohen sold 10,000 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the transaction, the vice president now owns 195,980 shares of the company’s stock, valued at approximately $8,819,100. The disclosure for this sale can be found here. In the last 90 days, insiders bought 4,264 shares of company stock valued at $165,731 and sold 101,679 shares valued at $4,098,710. 2.50% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Mascoma Wealth Management LLC purchased a new position in shares of Terex Corporation in the fourth quarter worth $111,000. Riverhead Capital Management LLC purchased a new position in shares of Terex Corporation in the third quarter worth $132,000. LS Investment Advisors LLC raised its stake in shares of Terex Corporation by 70.2% in the second quarter. LS Investment Advisors LLC now owns 6,648 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 2,743 shares during the last quarter. Sei Investments Co. raised its stake in shares of Terex Corporation by 47.5% in the third quarter. Sei Investments Co. now owns 5,284 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 1,701 shares during the last quarter. Finally, Creative Planning raised its stake in shares of Terex Corporation by 13.2% in the second quarter. Creative Planning now owns 8,600 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

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.

Get a free copy of the Zacks research report on Terex Corporation (TEX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Terex Corporation (NYSE:TEX)

Receive News & Ratings for Terex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.