Terex Corporation (TEX) Given a $52.00 Price Target by UBS AG Analysts
Terex Corporation (NYSE:TEX) has been given a $52.00 price objective by research analysts at UBS AG in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the industrial products company’s stock. UBS AG’s target price points to a potential upside of 13.44% from the company’s current price.
Several other analysts have also weighed in on TEX. BidaskClub upgraded Terex Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) lowered Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Thursday, June 15th. Wells Fargo & Company restated an “outperform” rating and set a $41.00 price target (up previously from $38.50) on shares of Terex Corporation in a report on Monday, June 19th. Credit Suisse Group set a $45.00 price target on Terex Corporation and gave the company a “buy” rating in a report on Monday, June 26th. Finally, Zacks Investment Research upgraded Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Thursday, July 13th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $39.71.
Shares of Terex Corporation (NYSE:TEX) opened at 45.84 on Wednesday. The company’s market cap is $4.10 billion. Terex Corporation has a 12 month low of $21.88 and a 12 month high of $46.68. The firm has a 50-day moving average price of $42.36 and a 200 day moving average price of $37.04.
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, beating 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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. Terex Corporation’s quarterly revenue was down 8.9% compared to the same quarter last year. Equities analysts predict that Terex Corporation will post $1.15 earnings per share for the current year.
Terex Corporation announced that its board has authorized a share repurchase program on Wednesday, September 6th that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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In other Terex Corporation news, VP Eric I. Cohen sold 8,892 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $39.50, for a total value of $351,234.00. Following the sale, the vice president now owns 196,280 shares in the company, valued at $7,753,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Eric I. Cohen sold 10,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the sale, the vice president now owns 195,980 shares in the company, valued at approximately $8,819,100. The disclosure for this sale can be found here. In the last quarter, insiders acquired 4,264 shares of company stock worth $165,731 and sold 98,679 shares worth $3,981,710. Company insiders own 2.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. increased its stake in Terex Corporation by 19.5% in the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 619 shares during the period. Clear Perspective Advisors LLC purchased a new stake in Terex Corporation in the second quarter worth $198,000. PNC Financial Services Group Inc. increased its stake in Terex Corporation by 7.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 403 shares during the period. CIBC World Markets Inc. purchased a new stake in Terex Corporation in the second quarter worth $210,000. Finally, National Planning Corp purchased a new stake in Terex Corporation in the second quarter worth $209,000. Institutional investors and hedge funds own 97.38% 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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