Terex (NYSE:TEX) has been assigned a $52.00 target price by investment analysts at UBS Group in a note issued to investors on Wednesday, www.tipranks.com reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. UBS Group’s price target would indicate a potential upside of 31.81% from the company’s current price.
Other analysts also recently issued reports about the stock. TheStreet raised shares of Terex from a “c” rating to a “b” rating in a report on Tuesday, May 1st. Vertical Research raised shares of Terex from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Jefferies Financial Group raised shares of Terex from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. ValuEngine raised shares of Terex from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Finally, Seaport Global Securities set a $49.00 price target on shares of Terex and gave the stock a “buy” rating in a report on Friday, July 13th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Terex presently has an average rating of “Hold” and a consensus target price of $46.00.
Shares of NYSE TEX opened at $39.45 on Wednesday. Terex has a 1 year low of $35.30 and a 1 year high of $50.17. The firm has a market cap of $2.83 billion, a P/E ratio of 29.22, a PEG ratio of 0.57 and a beta of 1.62. The company has a current ratio of 2.11, a quick ratio of 1.19 and a debt-to-equity ratio of 1.15.
Terex (NYSE:TEX) last announced its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.08. Terex had a net margin of 2.91% and a return on equity of 16.66%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.40 billion. research analysts anticipate that Terex will post 2.9 EPS for the current year.
Terex declared that its board has initiated a stock buyback plan on Thursday, July 12th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Paula H. Cholmondeley sold 16,214 shares of the firm’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $41.29, for a total value of $669,476.06. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Eric I. Cohen sold 12,502 shares of the firm’s stock in a transaction dated Friday, June 22nd. The stock was 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 ninety days, insiders have acquired 1,079 shares of company stock worth $45,136 and have sold 33,716 shares worth $1,378,307. Company insiders own 3.50% of the company’s stock.
Several large investors have recently bought and sold shares of TEX. Summit Trail Advisors LLC lifted its stake in shares of Terex by 3,247.4% in the first quarter. Summit Trail Advisors LLC now owns 159,937 shares of the industrial products company’s stock worth $160,000 after buying an additional 155,159 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Terex in the first quarter worth about $184,000. LPL Financial LLC purchased a new position in shares of Terex in the fourth quarter worth about $211,000. Delta Capital Management LLC purchased a new position in shares of Terex in the second quarter worth about $212,000. Finally, Lido Advisors LLC purchased a new position in shares of Terex in the second quarter worth about $246,000. 92.24% of the stock is currently owned by hedge funds and other 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.
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