Terex Corporation (TEX) Price Target Raised to $49.00 at Citigroup Inc.
Terex Corporation (NYSE:TEX) had its price target hoisted by analysts at Citigroup Inc. from $39.00 to $49.00 in a note issued to investors on Friday. The firm presently has a “neutral” rating on the industrial products company’s stock. Citigroup Inc.’s target price indicates a potential upside of 6.89% from the stock’s previous close.
Several other brokerages have also commented on TEX. UBS AG set a $52.00 target price on shares of Terex Corporation and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Wednesday. Deutsche Bank AG lowered shares of Terex Corporation from a “buy” rating to a “hold” rating and decreased their target price for the stock from $44.00 to $43.00 in a research report on Thursday, September 21st. Royal Bank Of Canada restated a “hold” rating and set a $38.00 target price on shares of Terex Corporation in a research report on Wednesday, September 13th. Finally, OTR Global downgraded Terex Corporation to a “positive” rating in a research note on Wednesday, September 13th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.64.
Shares of Terex Corporation (TEX) traded up 0.0657% during mid-day trading on Friday, reaching $45.8701. 91,321 shares of the company were exchanged. The stock has a 50 day moving average price of $42.36 and a 200-day moving average price of $37.04. The stock’s market capitalization is $4.10 billion. Terex Corporation has a 12 month low of $21.88 and a 12 month high of $46.68.
Terex Corporation (NYSE:TEX) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.42 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The business’s revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. Analysts predict that Terex Corporation will post $1.15 earnings per share for the current year.
Terex Corporation declared that its board has approved a share buyback plan on Wednesday, September 6th that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
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In other news, VP Eric I. Cohen sold 3,392 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $39.23, for a total transaction of $133,068.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Eric I. Cohen sold 10,000 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the sale, the vice president now owns 195,980 shares of the company’s stock, valued at approximately $8,819,100. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 4,264 shares of company stock valued at $165,731 and have sold 98,679 shares valued at $3,981,710. Corporate insiders own 2.50% of the company’s stock.
Large investors have recently modified their holdings of the company. Sei Investments Co. grew its holdings in shares of Terex Corporation by 19.5% during the 2nd 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 shares of Terex Corporation during the 2nd quarter worth about $198,000. PNC Financial Services Group Inc. grew its holdings in shares of Terex Corporation by 7.8% during the 1st 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 shares of Terex Corporation during the 2nd quarter worth about $210,000. Finally, National Planning Corp purchased a new stake in shares of Terex Corporation during the 2nd quarter worth about $209,000. Institutional investors and hedge funds own 97.38% 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.
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