Terex Corporation (TEX) Given “Hold” Rating at Royal Bank Of Canada
Terex Corporation (NYSE:TEX)‘s stock had its “hold” rating reaffirmed by stock analysts at Royal Bank Of Canada in a research note issued on Wednesday. They presently have a $38.00 price target on the industrial products company’s stock. Royal Bank Of Canada’s target price indicates a potential downside of 11.07% from the company’s current price.
A number of other equities analysts have also commented on the company. OTR Global lowered Terex Corporation to a “positive” rating in a research note on Wednesday. BMO Capital Markets restated a “hold” rating and set a $35.00 price objective on shares of Terex Corporation in a research note on Monday, August 21st. UBS AG restated a “buy” rating and set a $44.00 price objective (up previously from $40.00) on shares of Terex Corporation in a research note on Tuesday, August 8th. Deutsche Bank AG set a $44.00 price objective on Terex Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, TheStreet upgraded Terex Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.94.
Shares of Terex Corporation (NYSE:TEX) traded up 2.40% during mid-day trading on Wednesday, reaching $42.73. The company’s stock had a trading volume of 2,681,811 shares. Terex Corporation has a 52-week low of $21.88 and a 52-week high of $42.91. The firm’s market cap is $3.82 billion. The firm has a 50 day moving average price of $38.64 and a 200 day moving average price of $34.96.
Terex Corporation (NYSE:TEX) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.09. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, equities analysts predict that Terex Corporation will post $1.15 EPS for the current fiscal year.
Terex Corporation declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 30th that allows the company to repurchase $280.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 8.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
In related news, SVP Kevin Bradley sold 3,000 shares of the business’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $37.30, for a total transaction of $111,900.00. Following the sale, the senior vice president now owns 51,612 shares in the company, valued at approximately $1,925,127.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian J. Henry sold 10,154 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $40.00, for a total value of $406,160.00. Following the sale, the senior vice president now owns 313,263 shares in the company, valued at approximately $12,530,520. The disclosure for this sale can be found here. In the last quarter, insiders bought 4,202 shares of company stock worth $159,449 and sold 84,878 shares worth $3,295,017. Company insiders own 2.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in Terex Corporation by 11,851.5% during the 1st quarter. BlackRock Inc. now owns 8,449,356 shares of the industrial products company’s stock worth $265,310,000 after acquiring an additional 8,378,659 shares during the last quarter. Vanguard Group Inc. grew its position in Terex Corporation by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 7,999,378 shares of the industrial products company’s stock worth $251,180,000 after acquiring an additional 22,797 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Terex Corporation by 17.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,444,169 shares of the industrial products company’s stock worth $202,346,000 after acquiring an additional 943,237 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Terex Corporation by 51.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,624,339 shares of the industrial products company’s stock worth $135,913,000 after acquiring an additional 1,224,422 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Terex Corporation by 6.6% during the 2nd quarter. Alliancebernstein L.P. now owns 3,298,490 shares of the industrial products company’s stock worth $123,693,000 after acquiring an additional 202,899 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.
About Terex Corporation
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.
Receive News & Stock Ratings for Terex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corporation and related stocks with our FREE daily email newsletter.