Wells Fargo set a $45.00 target price on Terex (NYSE:TEX) in a research note issued to investors on Monday morning. The brokerage currently has a buy rating on the industrial products company’s stock.
TEX has been the topic of several other reports. Morgan Stanley began coverage on Terex in a research note on Friday, March 2nd. They set an equal weight rating and a $45.00 price objective on the stock. Zacks Investment Research cut Terex from a buy rating to a hold rating in a research note on Tuesday, March 6th. Robert W. Baird set a $43.00 price objective on Terex and gave the stock a hold rating in a research note on Friday, April 13th. Credit Suisse Group reduced their price objective on Terex from $61.00 to $59.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. Finally, TheStreet cut Terex from a b rating to a c rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $46.33.
Shares of TEX stock opened at $40.29 on Monday. Terex has a 12-month low of $31.25 and a 12-month high of $50.17. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $3,163.86, a PE ratio of 29.84, a PEG ratio of 0.95 and a beta of 1.80.
Terex (NYSE:TEX) last issued its earnings results on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. Terex had a return on equity of 8.80% and a net margin of 2.95%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $999.18 million. analysts predict that Terex will post 2.53 EPS for the current year.
Terex declared that its board has approved a share repurchase plan on Wednesday, February 7th that allows the company to buyback $325.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
In other Terex news, Director David A. Sachs bought 3,500 shares of the business’s stock in a transaction dated Monday, March 26th. The shares were purchased at an average price of $37.00 per share, with a total value of $129,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Eric I. Cohen sold 10,121 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $49.90, for a total value of $505,037.90. Following the transaction, the vice president now directly owns 185,897 shares in the company, valued at approximately $9,276,260.30. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 11,343 shares of company stock worth $419,457 and have sold 49,411 shares worth $2,090,346. Corporate insiders own 3.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in shares of Terex during the third quarter valued at approximately $499,000. Geode Capital Management LLC grew its stake in shares of Terex by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 748,507 shares of the industrial products company’s stock valued at $36,093,000 after buying an additional 14,017 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Terex by 6.9% during the fourth quarter. Rhumbline Advisers now owns 274,414 shares of the industrial products company’s stock valued at $13,232,000 after buying an additional 17,747 shares during the last quarter. Allianz Asset Management GmbH bought a new position in shares of Terex during the fourth quarter valued at approximately $763,000. Finally, Price Capital Management Inc. bought a new position in shares of Terex during the fourth quarter valued at approximately $3,254,000. 97.80% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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