Terex Corporation (TEX) Stock Rating Reaffirmed by KeyCorp
Terex Corporation (NYSE:TEX)‘s stock had its “hold” rating restated by research analysts at KeyCorp in a note issued to investors on Wednesday.
Other equities analysts have also recently issued reports about the stock. TheStreet upgraded shares of Terex Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Wednesday, October 11th. UBS AG set a $52.00 price objective on shares of Terex Corporation and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Deutsche Bank AG set a $44.00 price objective on shares of Terex Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Wells Fargo & Company set a $52.00 price objective on shares of Terex Corporation and gave the stock a “buy” rating in a research report on Monday, October 16th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $41.43.
Terex Corporation (TEX) traded down 7.219% during mid-day trading on Wednesday, reaching $43.709. 1,587,302 shares of the company’s stock were exchanged. Terex Corporation has a 12 month low of $21.88 and a 12 month high of $48.86. The stock has a 50-day moving average of $45.08 and a 200-day moving average of $38.48. The firm’s market cap is $3.91 billion.
Terex Corporation (NYSE:TEX) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.14. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company posted $0.19 EPS. The company’s revenue was up 5.2% on a year-over-year basis. Analysts anticipate that Terex Corporation will post $1.15 earnings per share for the current year.
Terex Corporation announced that its board has approved a share repurchase program on Wednesday, September 6th that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
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In other Terex Corporation news, insider Steve Filipov sold 4,564 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $38.22, for a total value of $174,436.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Eric I. Cohen sold 10,000 shares of the firm’s stock in a transaction 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 in the company, valued at $8,819,100. 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 98,679 shares valued at $3,981,710. Company insiders own 2.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Old Mutual Global Investors UK Ltd. lifted its stake in shares of Terex Corporation by 184.0% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 233,391 shares of the industrial products company’s stock valued at $10,507,000 after buying an additional 151,207 shares in the last quarter. BT Investment Management Ltd lifted its stake in shares of Terex Corporation by 23.7% in the third quarter. BT Investment Management Ltd now owns 33,520 shares of the industrial products company’s stock valued at $1,509,000 after buying an additional 6,428 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of Terex Corporation in the third quarter valued at $421,000. Crossmark Global Holdings Inc. bought a new position in shares of Terex Corporation in the third quarter valued at $677,000. Finally, Liberty Capital Management Inc. bought a new position in shares of Terex Corporation in the third quarter valued at $1,378,000. 97.72% of the stock is currently 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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