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.

TRADEMARK VIOLATION WARNING: “Terex Corporation (TEX) PT Raised to $49.00 at Citigroup Inc.” was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/10/13/terex-corporation-tex-pt-raised-to-49-00-at-citigroup-inc.html.

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.

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.