Terex (TEX) Downgraded by ValuEngine

ValuEngine downgraded shares of Terex (NYSE:TEX) from a hold rating to a sell rating in a research report sent to investors on Friday.

Several other research firms also recently issued reports on TEX. Zacks Investment Research raised Terex from a sell rating to a hold rating in a research report on Thursday, October 4th. UBS Group set a $52.00 price target on shares of Terex and gave the company a buy rating in a report on Wednesday, August 22nd. Robert W. Baird raised shares of Terex from an underperform rating to a neutral rating and set a $38.00 price target on the stock in a report on Monday, August 20th. Deutsche Bank reaffirmed a sell rating and issued a $34.00 price target on shares of Terex in a report on Wednesday, September 5th. Finally, Longbow Research began coverage on shares of Terex in a report on Friday, October 12th. They issued a neutral rating on the stock. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $40.83.

NYSE TEX opened at $28.35 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 2.22. Terex has a 1 year low of $27.97 and a 1 year high of $50.17. The firm has a market capitalization of $2.09 billion, a P/E ratio of 21.00, a PEG ratio of 0.30 and a beta of 1.61.

Terex (NYSE:TEX) last released its earnings results on Thursday, November 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.07). Terex had a net margin of 2.42% and a return on equity of 18.86%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $0.50 earnings per share. Terex’s revenue was up 10.6% on a year-over-year basis. On average, analysts expect that Terex will post 2.65 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Friday, November 9th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, November 8th. Terex’s payout ratio is 29.63%.

In other news, insider Kevin A. Barr sold 11,937 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $38.43, for a total transaction of $458,738.91. Following the sale, the insider now directly owns 101,980 shares of the company’s stock, valued at approximately $3,919,091.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Eric I. Cohen sold 10,000 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $39.01, for a total transaction of $390,100.00. Following the sale, the vice president now directly owns 182,905 shares in the company, valued at $7,135,124.05. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 852 shares of company stock worth $30,092. 3.50% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of TEX. Stratos Wealth Partners LTD. purchased a new stake in shares of Terex during the 3rd quarter worth about $109,000. Point72 Hong Kong Ltd purchased a new stake in shares of Terex during the 3rd quarter worth about $140,000. Belpointe Asset Management LLC purchased a new stake in shares of Terex during the 3rd quarter worth about $144,000. Neuberger Berman Group LLC purchased a new stake in shares of Terex during the 3rd quarter worth about $212,000. Finally, Wakefield Asset Management LLLP purchased a new stake in shares of Terex during the 3rd quarter worth about $223,000.

About Terex

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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Analyst Recommendations for Terex (NYSE:TEX)

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