Terex Corporation (NYSE:TEX) Lifted to B at TheStreet
A number of other analysts have also recently weighed in on the stock. UBS AG reiterated a buy rating and set a $44.00 price target (up previously from $40.00) on shares of Terex Corporation in a research note on Wednesday. Zacks Investment Research upgraded shares of Terex Corporation from a hold rating to a buy rating and set a $42.00 price target for the company in a research note on Thursday, July 13th. J P Morgan Chase & Co upgraded shares of Terex Corporation from a neutral rating to an overweight rating and increased their price target for the stock from $30.00 to $47.00 in a research note on Tuesday, April 25th. Seaport Global Securities increased their price target on shares of Terex Corporation from $30.00 to $35.00 and gave the stock a neutral rating in a research note on Thursday, May 4th. Finally, Barclays PLC increased their price target on shares of Terex Corporation from $25.00 to $26.00 and gave the stock an underweight rating in a research note on Wednesday, April 19th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $35.94.
Shares of Terex Corporation (NYSE TEX) traded up 3.72% during trading on Tuesday, hitting $39.00. 1,951,887 shares of the stock were exchanged. The company’s market cap is $3.81 billion. The stock’s 50 day moving average price is $37.34 and its 200-day moving average price is $33.55. Terex Corporation has a one year low of $21.88 and a one year high of $39.90.
Terex Corporation (NYSE:TEX) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.09. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.85%. The company’s revenue was down 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. On average, analysts predict that Terex Corporation will post $1.05 EPS for the current year.
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Terex Corporation announced that its board has approved a stock buyback program on Tuesday, May 30th that permits the company to repurchase $280.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 8.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Monday, August 7th. Terex Corporation’s dividend payout ratio (DPR) is presently -50.79%.
In related news, SVP Kevin Bradley sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $39.00, for a total value of $117,000.00. Following the completion of the sale, the senior vice president now owns 45,612 shares in the company, valued at $1,778,868. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steve Filipov sold 7,395 shares of the firm’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $33.08, for a total transaction of $244,626.60. The disclosure for this sale can be found here. In the last 90 days, insiders bought 841 shares of company stock valued at $29,607 and sold 78,903 shares valued at $2,746,667. 2.50% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in TEX. M&T Bank Corp increased its position in shares of Terex Corporation by 1.5% in the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock worth $279,000 after buying an additional 130 shares in the last quarter. Thrivent Financial For Lutherans increased its position in shares of Terex Corporation by 8.3% in the first quarter. Thrivent Financial For Lutherans now owns 19,920 shares of the industrial products company’s stock worth $625,000 after buying an additional 1,520 shares in the last quarter. Columbus Circle Investors acquired a new position in shares of Terex Corporation during the first quarter worth about $27,629,000. Schneider Capital Management Corp increased its position in shares of Terex Corporation by 0.7% in the first quarter. Schneider Capital Management Corp now owns 720,711 shares of the industrial products company’s stock worth $22,630,000 after buying an additional 5,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Terex Corporation by 7.6% in the first quarter. Geode Capital Management LLC now owns 824,753 shares of the industrial products company’s stock worth $25,897,000 after buying an additional 58,306 shares in the last quarter. Hedge funds and other institutional investors own 90.89% of the company’s stock.
Terex Corporation 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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