Terex Corporation (TEX) Receives $41.43 Average Target Price from Analysts
Shares of Terex Corporation (NYSE:TEX) have earned a consensus rating of “Hold” from the nineteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $41.43.
A number of research firms have issued reports on TEX. Wells Fargo & Company set a $52.00 target price on Terex Corporation and gave the company a “buy” rating in a research note on Monday, October 16th. Citigroup Inc. boosted their target price on Terex Corporation from $39.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, October 13th. Zacks Investment Research raised Terex Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, October 11th. UBS AG set a $52.00 target price on Terex Corporation and gave the company a “buy” rating in a research note on Wednesday, October 11th. Finally, Deutsche Bank AG cut Terex Corporation from a “buy” rating to a “hold” rating and decreased their target price for the company from $44.00 to $43.00 in a research note on Thursday, September 21st.
In related news, insider Kevin A. Barr sold 15,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $38.92, for a total transaction of $583,800.00. Following the sale, the insider now owns 143,304 shares in the company, valued at $5,577,391.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Eric I. Cohen sold 10,000 shares of the company’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 in the company, valued at approximately $8,819,100. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 4,264 shares of company stock worth $165,731 and have sold 98,679 shares worth $3,981,710. Corporate insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in Terex Corporation by 11,851.5% during the first quarter. BlackRock Inc. now owns 8,449,356 shares of the industrial products company’s stock worth $265,310,000 after buying an additional 8,378,659 shares during the last quarter. Vanguard Group Inc. increased its position in Terex Corporation by 0.3% during the first quarter. Vanguard Group Inc. now owns 7,999,378 shares of the industrial products company’s stock worth $251,180,000 after buying an additional 22,797 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in Terex Corporation by 51.0% during the second quarter. TIAA CREF Investment Management LLC now owns 3,624,339 shares of the industrial products company’s stock worth $135,913,000 after buying an additional 1,224,422 shares during the last quarter. Alliancebernstein L.P. increased its position in Terex Corporation by 6.6% during the second quarter. Alliancebernstein L.P. now owns 3,298,490 shares of the industrial products company’s stock worth $123,693,000 after buying an additional 202,899 shares during the last quarter. Finally, State Street Corp increased its position in Terex Corporation by 1.1% during the first quarter. State Street Corp now owns 2,746,795 shares of the industrial products company’s stock worth $86,251,000 after buying an additional 30,608 shares during the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Terex Corporation (TEX) traded down 0.81% during midday trading on Wednesday, reaching $46.65. The company had a trading volume of 740,096 shares. Terex Corporation has a 52-week low of $21.88 and a 52-week high of $47.28. The firm’s market cap is $4.17 billion. The company’s 50-day moving average is $44.88 and its 200-day moving average is $38.42.
Terex Corporation (NYSE:TEX) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The company’s revenue was down 8.9% on a year-over-year basis. Equities research analysts expect that Terex Corporation will post $1.15 EPS for the current fiscal year.
Terex Corporation announced that its board has initiated a stock repurchase program on Wednesday, September 6th that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 6.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Thursday, November 9th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.69%. Terex Corporation’s dividend payout ratio (DPR) is -50.79%.
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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