Deutsche Bank started coverage on shares of Terex (NYSE:TEX) in a research note released on Tuesday morning, TipRanks reports. The brokerage issued a hold rating and a $21.00 target price on the industrial products company’s stock.
A number of other brokerages also recently commented on TEX. Bank of America reduced their target price on shares of Terex from $11.00 to $9.00 and set an underperform rating on the stock in a research note on Friday, April 24th. UBS Group dropped their price target on shares of Terex from $28.00 to $15.00 and set a neutral rating for the company in a research report on Thursday, May 7th. Cfra cut shares of Terex from a hold rating to a sell rating in a research report on Monday, May 4th. Royal Bank of Canada reiterated a hold rating on shares of Terex in a research report on Wednesday, May 6th. Finally, Morgan Stanley dropped their price target on shares of Terex from $18.00 to $17.00 and set an equal weight rating for the company in a research report on Monday, May 4th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. Terex has an average rating of Hold and a consensus target price of $21.86.
Shares of TEX stock opened at $18.75 on Tuesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.53 and a quick ratio of 1.47. The firm’s 50-day moving average is $17.07 and its two-hundred day moving average is $20.56. Terex has a 12 month low of $11.54 and a 12 month high of $33.49. The company has a market capitalization of $1.26 billion, a PE ratio of 13.99 and a beta of 1.61.
Terex (NYSE:TEX) last issued its earnings results on Thursday, April 30th. The industrial products company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.30). Terex had a return on equity of 17.04% and a net margin of 2.37%. The firm had revenue of $833.60 million for the quarter, compared to analysts’ expectations of $866.77 million. During the same period last year, the firm earned $0.87 earnings per share. Terex’s revenue for the quarter was down 26.7% on a year-over-year basis. Sell-side analysts forecast that Terex will post -0.92 EPS for the current year.
In other Terex news, SVP Kevin A. Barr sold 5,479 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $21.34, for a total transaction of $116,921.86. Following the completion of the transaction, the senior vice president now owns 24,571 shares in the company, valued at approximately $524,345.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin A. Barr sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $15.96, for a total transaction of $159,600.00. The disclosure for this sale can be found here. Insiders purchased 5,812 shares of company stock valued at $87,931 in the last 90 days. Company insiders own 3.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its holdings in Terex by 740.2% during the 1st quarter. Parallel Advisors LLC now owns 2,092 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,843 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Terex by 125.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,000 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 1,113 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in Terex during the 1st quarter worth approximately $59,000. Meeder Asset Management Inc. acquired a new position in Terex during the 4th quarter worth approximately $69,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Terex by 42.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,790 shares of the industrial products company’s stock worth $98,000 after acquiring an additional 2,024 shares in the last quarter. Institutional investors own 88.70% 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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