Terex Corporation (TEX) PT Raised to $49.00 at Citigroup Inc.
Terex Corporation (NYSE:TEX) had its price target boosted by analysts at Citigroup Inc. from $39.00 to $49.00 in a report released on Friday. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 6.89% from the company’s current price.
TEX has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Thursday, July 13th. Credit Suisse Group set a $45.00 target price on shares of Terex Corporation and gave the stock a “buy” rating in a research note on Monday, June 26th. Deutsche Bank AG cut shares of Terex Corporation from a “buy” rating to a “hold” rating and lowered their target price for the stock from $44.00 to $43.00 in a research note on Thursday, September 21st. Wells Fargo & Company reiterated an “outperform” rating and issued a $41.00 target price (up from $38.50) on shares of Terex Corporation in a research note on Monday, June 19th. Finally, UBS AG set a $52.00 target price on shares of Terex Corporation and gave the stock a “buy” rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $40.64.
Terex Corporation (TEX) traded up 0.04% on Friday, hitting $45.86. 100,164 shares of the stock traded hands. Terex Corporation has a 12 month low of $21.88 and a 12 month high of $46.68. The firm has a 50-day moving average price of $42.36 and a 200-day moving average price of $37.04. The company’s market capitalization is $4.10 billion.
Terex Corporation (NYSE:TEX) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. Terex Corporation’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. Analysts forecast that Terex Corporation will post $1.15 earnings per share for the current year.
Terex Corporation declared that its board has authorized a stock repurchase plan on Wednesday, September 6th that permits the company to buyback $225.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 6.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
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In other news, VP Eric I. Cohen sold 10,000 shares of Terex Corporation stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the transaction, the vice president now directly owns 195,980 shares of the company’s stock, valued at approximately $8,819,100. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kevin A. Barr sold 2,682 shares of Terex Corporation stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $43.05, for a total transaction of $115,460.10. Following the transaction, the insider now directly owns 126,762 shares of the company’s stock, valued at $5,457,104.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 4,264 shares of company stock valued at $165,731 and have sold 98,679 shares valued at $3,981,710. 2.50% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Sei Investments Co. increased its holdings in shares of Terex Corporation by 19.5% during the 2nd quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 619 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Terex Corporation by 7.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 403 shares in the last quarter. US Bancorp DE increased its holdings in shares of Terex Corporation by 9.3% during the 1st quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 510 shares in the last quarter. Clear Perspective Advisors LLC purchased a new position in shares of Terex Corporation during the 2nd quarter valued at approximately $198,000. Finally, National Planning Corp purchased a new position in shares of Terex Corporation during the 2nd quarter valued at approximately $209,000. 97.38% of the stock is owned by hedge funds and other institutional investors.
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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