Terex Corporation (TEX) PT Set at $52.00 by UBS AG
Terex Corporation (NYSE:TEX) has been assigned a $52.00 target price by stock analysts at UBS AG in a research note issued on Wednesday, thefly.com reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. UBS AG’s price target suggests a potential upside of 13.49% from the company’s current price.
Other equities research analysts have also issued research reports about the company. BMO Capital Markets restated a “hold” rating and issued a $35.00 price objective on shares of Terex Corporation in a research report on Thursday, July 20th. Deutsche Bank AG set a $44.00 price objective on Terex Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada restated a “hold” rating and issued a $38.00 price objective on shares of Terex Corporation in a research report on Wednesday, September 13th. TheStreet upgraded Terex Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Finally, BidaskClub raised Terex Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $39.71.
Shares of Terex Corporation (NYSE TEX) traded up 0.24% during mid-day trading on Wednesday, hitting $45.93. 372,052 shares of the stock were exchanged. The stock’s 50 day moving average is $42.13 and its 200-day moving average is $36.98. The stock’s market cap is $4.11 billion. Terex Corporation has a 12 month low of $21.88 and a 12 month high of $46.68.
Terex Corporation (NYSE:TEX) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping 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 business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. On average, analysts anticipate that Terex Corporation will post $1.15 EPS for the current year.
Terex Corporation announced that its Board of Directors has initiated a stock buyback plan on Wednesday, September 6th that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
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In other news, SVP Kevin Bradley sold 3,000 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $39.00, for a total transaction of $117,000.00. Following the completion of the transaction, the senior vice president now directly owns 45,612 shares in the company, valued at approximately $1,778,868. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kevin A. Barr sold 15,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $38.92, for a total value of $583,800.00. Following the transaction, the insider now owns 143,304 shares of the company’s stock, valued at $5,577,391.68. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 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 corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp grew its holdings in shares of Terex Corporation by 1.5% during the 1st quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock worth $279,000 after purchasing an additional 130 shares during the period. Liberty Mutual Group Asset Management Inc. grew its holdings in shares of Terex Corporation by 0.4% during the 1st quarter. Liberty Mutual Group Asset Management Inc. now owns 47,951 shares of the industrial products company’s stock worth $1,506,000 after purchasing an additional 170 shares during the period. Capstone Asset Management Co. grew its holdings in shares of Terex Corporation by 1.5% during the 2nd quarter. Capstone Asset Management Co. now owns 14,468 shares of the industrial products company’s stock worth $543,000 after purchasing an additional 220 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Terex Corporation by 4.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,825 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 262 shares during the period. Finally, Mirador Capital Partners LP grew its holdings in shares of Terex Corporation by 4.5% during the 2nd quarter. Mirador Capital Partners LP now owns 9,118 shares of the industrial products company’s stock worth $360,000 after purchasing an additional 394 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.
About Terex Corporation
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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