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.
TRADEMARK VIOLATION NOTICE: This story was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://sportsperspectives.com/2017/07/20/terex-corporation-nysetex-earns-hold-rating-from-bmo-capital-markets.html.
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.
Receive News & Ratings for Terex Corporation Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Terex Corporation and related companies with MarketBeat.com’s FREE daily email newsletter.