Terex (NYSE:TEX) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Monday.
TEX has been the subject of a number of other reports. Morgan Stanley started coverage on Terex in a research report on Friday, March 2nd. They issued an “equal weight” rating and a $45.00 price objective for the company. OTR Global raised Terex to a “positive” rating in a research report on Tuesday, December 5th. Credit Suisse Group cut their price objective on Terex from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Zacks Investment Research cut Terex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, TheStreet cut Terex from a “b” rating to a “c” rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Terex currently has a consensus rating of “Hold” and an average price target of $45.27.
TEX stock traded down $1.57 during mid-day trading on Monday, reaching $35.84. The company had a trading volume of 811,172 shares, compared to its average volume of 1,562,398. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.80. The company has a market cap of $3,030.21, a price-to-earnings ratio of 26.55, a P/E/G ratio of 0.92 and a beta of 1.80. Terex has a 52 week low of $30.25 and a 52 week high of $50.17.
Terex announced that its board has authorized a stock buyback program on Wednesday, February 7th that permits the company to buyback $325.00 million in shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other news, Director David A. Sachs purchased 6,500 shares of the company’s stock in a transaction that occurred on Friday, March 23rd. The stock was acquired at an average cost of $36.59 per share, with a total value of $237,835.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steve Filipov sold 8,984 shares of Terex stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $43.28, for a total value of $388,827.52. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 11,044 shares of company stock valued at $411,956 and have sold 49,411 shares valued at $2,090,346. Company 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. Legal & General Group Plc raised its holdings in Terex by 0.8% in the 3rd quarter. Legal & General Group Plc now owns 172,062 shares of the industrial products company’s stock valued at $7,744,000 after acquiring an additional 1,293 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Terex by 1.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 105,442 shares of the industrial products company’s stock valued at $5,084,000 after acquiring an additional 1,670 shares in the last quarter. Flinton Capital Management LLC raised its holdings in Terex by 11.8% in the 4th quarter. Flinton Capital Management LLC now owns 17,102 shares of the industrial products company’s stock valued at $825,000 after acquiring an additional 1,802 shares in the last quarter. Scotia Capital Inc. raised its holdings in Terex by 30.1% in the 4th quarter. Scotia Capital Inc. now owns 8,673 shares of the industrial products company’s stock valued at $418,000 after acquiring an additional 2,009 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Terex by 52.9% in the 3rd quarter. Sei Investments Co. now owns 5,812 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 2,012 shares in the last quarter. 97.80% of the stock is owned by hedge funds and other institutional investors.
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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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