Terex (NYSE:TEX) had its price target lowered by investment analysts at Deutsche Bank from $49.00 to $48.00 in a report released on Thursday. The firm currently has a “hold” rating on the industrial products company’s stock. Deutsche Bank’s target price suggests a potential upside of 16.99% from the stock’s current price.
Several other equities research analysts have also recently commented on the company. Robert W. Baird reaffirmed a “buy” rating and set a $52.00 target price on shares of Terex in a research note on Thursday, December 21st. Zacks Investment Research cut Terex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Barclays began coverage on Terex in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $50.00 target price for the company. OTR Global raised Terex to a “positive” rating in a research note on Tuesday, December 5th. Finally, ValuEngine cut Terex from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $46.07.
Terex (NYSE:TEX) traded down $2.21 during midday trading on Thursday, reaching $41.03. The company had a trading volume of 2,451,437 shares, compared to its average volume of 1,340,000. Terex has a fifty-two week low of $28.67 and a fifty-two week high of $50.17. The firm has a market capitalization of $3,450.00, a PE ratio of 63.12, a P/E/G ratio of 1.50 and a beta of 1.71. The company has a quick ratio of 1.53, a current ratio of 2.30 and a debt-to-equity ratio of 0.80.
Terex announced that its Board of Directors has approved a share buyback plan on Wednesday, February 7th that permits the company to repurchase $325.00 million in shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In other Terex news, VP Eric I. Cohen sold 10,121 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $49.90, for a total value of $505,037.90. Following the completion of the sale, the vice president now owns 185,897 shares of the company’s stock, valued at $9,276,260.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark I. Clair sold 3,014 shares of the firm’s stock in a transaction that occurred 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. Insiders acquired 987 shares of company stock valued at $44,638 in the last three months. Insiders own 2.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its stake in Terex by 4.7% in the second quarter. PNC Financial Services Group Inc. now owns 5,825 shares of the industrial products company’s stock valued at $220,000 after acquiring an additional 262 shares during the period. Legal & General Group Plc grew its stake in Terex by 0.8% in the third quarter. Legal & General Group Plc now owns 172,062 shares of the industrial products company’s stock valued at $7,744,000 after acquiring an additional 1,293 shares during the period. Tyers Asset Management LLC lifted its holdings in shares of Terex by 11.8% in the fourth quarter. Tyers Asset Management LLC now owns 14,084 shares of the industrial products company’s stock valued at $679,000 after purchasing an additional 1,484 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Terex by 1.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 105,442 shares of the industrial products company’s stock valued at $5,084,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its holdings in shares of Terex by 11.8% in the fourth quarter. Flinton Capital Management LLC now owns 17,102 shares of the industrial products company’s stock valued at $825,000 after purchasing an additional 1,802 shares in the last quarter. 95.80% of the stock is owned by hedge funds and other institutional investors.
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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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