Zacks Investment Research upgraded shares of Terex (NYSE:TEX) from a sell rating to a hold rating in a research note released on Monday.

According to Zacks, “Due to lower-than-expected third-quarter results, Terex lowered sales growth guidance to 17% and adjusted earnings per share guidance to $2.60-$2.70 for fiscal 2018. Further, higher input costs primarily due to the imposition of tariffs, and foreign exchange headwinds resulted in the trimmed guidance. Over the past year, Terex has underperformed the industry. The company also updated production plans for the Cranes segment which has been affected by supply chain challenges so far in 2018. However, its Aerial Work Platform  and Material Processing segments are poised for growth . Also, an improving backlog along with an enhanced global market & environment positions the company well.”

A number of other research firms have also issued reports on TEX. Vertical Research lowered shares of Terex from a buy rating to a hold rating in a research note on Friday, November 2nd. Citigroup lowered their target price on shares of Terex from $45.00 to $38.00 and set a neutral rating on the stock in a research note on Friday, November 2nd. ValuEngine lowered shares of Terex from a hold rating to a sell rating in a research note on Friday, December 7th. Wells Fargo & Co lowered their target price on shares of Terex from $45.00 to $34.00 and set a hold rating on the stock in a research note on Monday, November 5th. Finally, Longbow Research initiated coverage on shares of Terex in a research note on Friday, October 12th. They issued a neutral rating on the stock. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Terex has a consensus rating of Hold and an average price target of $40.83.

NYSE:TEX opened at $29.70 on Monday. Terex has a 1 year low of $25.47 and a 1 year high of $50.17. The company has a current ratio of 2.22, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $2.14 billion, a P/E ratio of 22.00, a PEG ratio of 0.23 and a beta of 1.59.

Terex (NYSE:TEX) last posted its earnings results on Thursday, November 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.07). Terex had a net margin of 2.42% and a return on equity of 18.86%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business posted $0.50 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts forecast that Terex will post 2.65 EPS for the current year.

Several institutional investors have recently modified their holdings of TEX. Stratos Wealth Partners LTD. bought a new position in Terex during the 3rd quarter valued at about $109,000. Point72 Hong Kong Ltd bought a new position in shares of Terex in the third quarter worth about $140,000. Belpointe Asset Management LLC bought a new position in shares of Terex in the third quarter worth about $144,000. Neuberger Berman Group LLC bought a new position in shares of Terex in the third quarter worth about $212,000. Finally, Wakefield Asset Management LLLP bought a new position in shares of Terex in the third quarter worth about $223,000. Institutional investors and hedge funds own 98.70% of the company’s stock.

Terex Company Profile

Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.

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