Terex Corp. (TEX) Stock Down After Price Target Increase at RBC Capital Markets

Terex Corp. (NYSE: TEX) shares were down on Wednesday Dec 14 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.

Meanwhile, U.S. equities traded mostly lower on Wednesday as investors awaited the Federal Reserve’s latest decision regarding monetary policy.

The Dow Jones industrial average traded 35 points lower, with Goldman Sachs contributing the most losses. The S&P 500 traded 0.1 percent lower, with financials leading decliners. The Nasdaq composite, meanwhile, held flat.

Terex Corp. (NYSE: TEX) had its price target boosted by equities researchers at RBC Capital Markets from $24.00 to $33.00. RBC Capital Markets currently has a rating of Sector Perform on the stock. A number of other analysts have commented on the company recently, and Terex Corp. has earned a consensus one-year price target of $28.76, less than the opening price of $32.94. Terex Corp. stock has a 52-week high of $33.17.

Terex Corp. (NYSE: TEX) shares last traded at $32.40, a drop of $0.65 per share or -1.98% compared to the previous closing price. Opening at $32.94, they ranged from $32.37 and $33.12 throughout the day.

Terex Corp. (NYSE: TEX) currently has a market cap of 3.43B.

Terex Corp. (NYSE: TEX) Average Daily Trading Volume

134,598 shares crossed the trading desk yesterday, below the average, out of a total float 101,573,000. Look for trading volume to pick up in the coming days as swing traders often use swings in trading volume to identify substantial volume accumulation or dissemination by institutional investors.

However, a single day of significant buy side trading is not enough to determine a trend. So market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors retain substantial teams of analysts that research thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.

Terex Corp. (NYSE: TEX) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

Traders are able to make make more impactful judgments on trades when they track the activity of professional investors.

With that in mind, Terex Corp. (NYSE: TEX) now has a 50-day MA of $27.60 and 200-day MA of $24.14. It has traded in a 52-week range between $13.62 – 33.170 and today’s last price is 2.33%% lower than the 52 week high of $33.17.

Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors watch for companies that have been successful at growing their earnings at least 25% or more for a 3 year period.

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