Terex (NYSE:TEX) Lifted to “Buy” at Jefferies Financial Group

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Terex (NYSE:TEX) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Thursday, June 21st, Marketbeat Ratings reports.

A number of other brokerages have also recently weighed in on TEX. Morgan Stanley assumed coverage on shares of Terex in a research report on Friday, March 2nd. They issued an “equal weight” rating and a $45.00 price target for the company. Goldman Sachs Group lowered shares of Terex from a “neutral” rating to a “sell” rating in a research note on Wednesday, June 13th. Zacks Investment Research lowered shares of Terex from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Robert W. Baird lowered shares of Terex from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Friday, March 2nd. Finally, Wells Fargo & Co set a $45.00 price target on shares of Terex and gave the company a “buy” rating in a report on Monday, April 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $46.23.

Shares of Terex opened at $42.19 on Thursday, according to MarketBeat Ratings. Terex has a 1 year low of $35.30 and a 1 year high of $50.17. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.26 and a quick ratio of 1.29. The company has a market cap of $3.13 billion, a PE ratio of 21.76, a PEG ratio of 0.68 and a beta of 1.79.

Terex (NYSE:TEX) last posted its quarterly earnings results on Tuesday, May 1st. The industrial products company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.19. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.12 billion. Terex had a net margin of 3.98% and a return on equity of 12.83%. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share. sell-side analysts expect that Terex will post 2.9 EPS for the current fiscal year.

In related news, Director Paula H. Cholmondeley sold 16,214 shares of the business’s stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $41.29, for a total transaction of $669,476.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Eric I. Cohen sold 12,502 shares of the business’s stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $40.40, for a total transaction of $505,080.80. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 1,343 shares of company stock valued at $52,600 and sold 50,453 shares valued at $2,043,086. 3.50% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in TEX. BlackRock Inc. increased its stake in Terex by 5.9% during the 1st quarter. BlackRock Inc. now owns 7,277,665 shares of the industrial products company’s stock worth $272,258,000 after purchasing an additional 404,164 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Terex by 0.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,339,560 shares of the industrial products company’s stock worth $64,594,000 after purchasing an additional 6,649 shares in the last quarter. Systematic Financial Management LP increased its stake in Terex by 0.4% during the 1st quarter. Systematic Financial Management LP now owns 1,190,011 shares of the industrial products company’s stock worth $44,518,000 after purchasing an additional 5,194 shares in the last quarter. Geode Capital Management LLC increased its stake in Terex by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 748,507 shares of the industrial products company’s stock worth $36,093,000 after purchasing an additional 14,017 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Terex by 93.0% during the 4th quarter. Millennium Management LLC now owns 551,612 shares of the industrial products company’s stock worth $26,599,000 after acquiring an additional 265,755 shares during the last quarter. 98.27% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Terex (NYSE:TEX)

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