Terex Corporation (NYSE:TEX) Earns Hold Rating from BMO Capital Markets

Terex Corporation (NYSE:TEX)‘s stock had its “hold” rating reissued by research analysts at BMO Capital Markets in a research note issued on Thursday. They presently have a $35.00 price objective on the industrial products company’s stock. BMO Capital Markets’ target price points to a potential downside of 9.89% from the stock’s current price.

TEX has been the topic of a number of other research reports. Credit Suisse Group set a $45.00 price objective on shares of Terex Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $41.00 price objective (up previously from $38.50) on shares of Terex Corporation in a research report on Monday, June 19th. Goldman Sachs Group, Inc. (The) downgraded shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Thursday, June 15th. Bank of America Corporation downgraded shares of Terex Corporation from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $29.00 to $33.00 in a research report on Thursday, May 11th. Finally, Zacks Investment Research raised shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Thursday, July 13th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.29.

Terex Corporation (NYSE TEX) opened at 38.84 on Thursday. The stock has a 50 day moving average of $36.20 and a 200 day moving average of $33.09. Terex Corporation has a 52 week low of $21.78 and a 52 week high of $39.04. The company’s market cap is $3.79 billion.

Terex Corporation (NYSE:TEX) last issued its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. Terex Corporation had a negative net margin of 2.53% and a positive return on equity of 5.90%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $926.31 million. On average, analysts expect that Terex Corporation will post $0.98 earnings per share for the current year.

Terex Corporation announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 30th that allows the company to buyback $280.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 8.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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In related news, insider Steve Filipov sold 7,395 shares of the business’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $33.08, for a total value of $244,626.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin Bradley sold 3,000 shares of the business’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $37.30, for a total transaction of $111,900.00. Following the completion of the transaction, the senior vice president now owns 51,612 shares of the company’s stock, valued at $1,925,127.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 1,301 shares of company stock valued at $44,893 and have sold 78,903 shares valued at $2,746,667. Insiders own 2.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its position 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 valued at $175,000 after buying an additional 403 shares in the last quarter. US Bancorp DE boosted its position in Terex Corporation by 9.3% in the first quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock valued at $188,000 after buying an additional 510 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Terex Corporation by 19.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,685 shares of the industrial products company’s stock valued at $212,000 after buying an additional 1,111 shares in the last quarter. New England Research & Management Inc. purchased a new position in Terex Corporation during the second quarter valued at about $274,000. Finally, Invictus RG purchased a new position in Terex Corporation during the first quarter valued at about $237,000. Hedge funds and other institutional investors own 91.45% 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.

Analyst Recommendations for Terex Corporation (NYSE:TEX)

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