Terex Corp. (TEX) Given New $28.00 Price Target at Deutsche Bank AG
Terex Corp. (NYSE:TEX) had its price objective increased by analysts at Deutsche Bank AG from $26.00 to $28.00 in a report released on Wednesday. The brokerage currently has a “hold” rating on the stock. Deutsche Bank AG’s target price suggests a potential upside of 14.90% from the stock’s current price.
Several other equities research analysts also recently issued reports on TEX. Zacks Investment Research downgraded shares of Terex Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. Morgan Stanley reaffirmed a “hold” rating and issued a $21.00 target price on shares of Terex Corp. in a research report on Friday, September 16th. Stifel Nicolaus set a $29.00 target price on Terex Corp. and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. set a $20.00 target price on Terex Corp. and gave the stock a “hold” rating in a research report on Friday, August 5th. Finally, Jefferies Group cut Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research report on Tuesday, August 9th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $24.22.
Terex Corp. (NYSE:TEX) traded down 0.677% during midday trading on Wednesday, reaching $24.205. 165,586 shares of the company were exchanged. The firm’s 50-day moving average price is $24.28 and its 200 day moving average price is $23.23. Terex Corp. has a 52-week low of $13.62 and a 52-week high of $25.66. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 48.998 and a beta of 2.93.
Terex Corp. (NYSE:TEX) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.54 by $0.10. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. Equities analysts predict that Terex Corp. will post $0.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Wednesday, August 10th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Monday, August 8th. Terex Corp.’s payout ratio is 57.14%.
In other news, insider Matthew Fearon sold 3,632 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $24.69, for a total transaction of $89,674.08. Following the sale, the insider now owns 111,114 shares in the company, valued at approximately $2,743,404.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin A. Barr sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $23.75, for a total value of $237,500.00. Following the sale, the insider now owns 153,788 shares in the company, valued at approximately $3,652,465. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Pzena Investment Management LLC raised its position in Terex Corp. by 49.1% in the second quarter. Pzena Investment Management LLC now owns 7,164,504 shares of the company’s stock worth $145,511,000 after buying an additional 2,359,735 shares during the last quarter. Prudential Financial Inc. raised its position in Terex Corp. by 2,882.0% in the second quarter. Prudential Financial Inc. now owns 1,992,054 shares of the company’s stock worth $40,459,000 after buying an additional 1,925,252 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Terex Corp. by 105.3% in the second quarter. TIAA CREF Investment Management LLC now owns 3,191,643 shares of the company’s stock worth $64,822,000 after buying an additional 1,636,964 shares during the last quarter. Schroder Investment Management Group acquired a new position in Terex Corp. during the second quarter worth $23,860,000. Finally, Highline Capital Management L.P. acquired a new position in Terex Corp. during the second quarter worth $14,572,000. 81.01% of the stock is currently owned by institutional investors and hedge funds.
About Terex Corp.
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.
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