Terex (TEX) Downgraded by Goldman Sachs Group

Terex (NYSE:TEX) was downgraded by research analysts at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

Several other analysts have also recently weighed in on TEX. Deutsche Bank dropped their price objective on shares of Terex from $49.00 to $48.00 and set a “hold” rating for the company in a research note on Thursday, February 15th. Credit Suisse Group dropped their price objective on shares of Terex from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. TheStreet cut shares of Terex from a “b” rating to a “c” rating in a research note on Wednesday, February 14th. Zacks Investment Research upgraded shares of Terex from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective for the company in a research note on Monday, February 19th. Finally, Robert W. Baird cut shares of Terex from an “outperform” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research note on Friday, March 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $45.57.

Terex traded down $0.55, hitting $41.74, during midday trading on Wednesday, Marketbeat.com reports. The company’s stock had a trading volume of 1,363,242 shares, compared to its average volume of 1,514,669. Terex has a 1-year low of $34.21 and a 1-year high of $50.17. The company has a quick ratio of 1.29, a current ratio of 2.26 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 0.69 and a beta of 1.79.

Terex (NYSE:TEX) last issued its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.19. Terex had a net margin of 3.98% and a return on equity of 12.83%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the company earned $0.05 EPS. The business’s revenue was up 25.2% on a year-over-year basis. sell-side analysts anticipate that Terex will post 2.9 earnings per share for the current fiscal year.

In related news, SVP Brian J. Henry sold 5,000 shares of Terex stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $42.98, for a total transaction of $214,900.00. Following the sale, the senior vice president now directly owns 330,157 shares of the company’s stock, valued at approximately $14,190,147.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Sachs purchased 3,500 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The shares were bought at an average cost of $37.00 per share, for a total transaction of $129,500.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 11,343 shares of company stock worth $419,935 over the last ninety days. 3.50% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Summit Trail Advisors LLC grew its holdings in shares of Terex by 3,247.4% during the 1st quarter. Summit Trail Advisors LLC now owns 159,937 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 155,159 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in shares of Terex by 46.0% during the 1st quarter. Xact Kapitalforvaltning AB now owns 12,053 shares of the industrial products company’s stock valued at $451,000 after purchasing an additional 3,800 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Terex by 15.1% during the 1st quarter. Royal Bank of Canada now owns 82,897 shares of the industrial products company’s stock valued at $3,101,000 after purchasing an additional 10,850 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Terex by 42.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 222,295 shares of the industrial products company’s stock valued at $8,316,000 after purchasing an additional 66,560 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Terex by 1,823.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 11,733 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 11,123 shares during the last quarter. 98.62% of the stock is currently owned by institutional investors.

About Terex

Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.

The Fly

Analyst Recommendations for Terex (NYSE:TEX)

Receive News & Ratings for Terex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply