Terex (TEX) Now Covered by Barclays
Research analysts at Barclays began coverage on shares of Terex (NYSE:TEX) in a research note issued to investors on Tuesday. The brokerage set an “equal weight” rating and a $50.00 price target on the industrial products company’s stock. Barclays’ target price suggests a potential upside of 7.46% from the company’s current price.
A number of other research analysts have also weighed in on the company. OTR Global raised Terex to a “positive” rating in a report on Tuesday, December 5th. ValuEngine lowered Terex from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Bank of America reduced their price target on Terex from $42.00 to $40.00 and set an “underperform” rating for the company in a research note on Wednesday, November 8th. KeyCorp restated a “hold” rating on shares of Terex in a research note on Wednesday, November 1st. Finally, Wells Fargo & Company set a $52.00 price target on Terex and gave the company a “buy” rating in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Terex presently has a consensus rating of “Hold” and an average price target of $43.64.
Terex (NYSE TEX) traded down $0.32 during mid-day trading on Tuesday, hitting $46.53. The company had a trading volume of 843,100 shares, compared to its average volume of 1,437,032. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.42 and a quick ratio of 1.53. The firm has a market cap of $3,940.08, a price-to-earnings ratio of 41.46, a PEG ratio of 3.24 and a beta of 1.88. Terex has a 1-year low of $28.67 and a 1-year high of $48.86.
Terex announced that its board has initiated a stock buyback plan on Wednesday, September 6th that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, insider Kevin A. Barr sold 2,682 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $43.05, for a total transaction of $115,460.10. Following the completion of the sale, the insider now directly owns 126,762 shares in the company, valued at approximately $5,457,104.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Mark I. Clair sold 3,014 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $45.53, for a total value of $137,227.42. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 1,111 shares of company stock valued at $50,693 and sold 30,811 shares valued at $1,356,109. Insiders own 2.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in TEX. Renaissance Technologies LLC bought a new stake in shares of Terex during the 1st quarter valued at $2,079,000. Sei Investments Co. lifted its position in shares of Terex 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 acquiring an additional 619 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Terex by 7.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 103,600 shares of the industrial products company’s stock valued at $3,885,000 after acquiring an additional 7,300 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Terex by 3.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 357,773 shares of the industrial products company’s stock valued at $13,417,000 after acquiring an additional 11,048 shares during the period. Finally, National Planning Corp bought a new stake in shares of Terex during the 2nd quarter valued at $209,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.
Terex 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.
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