Terex Corporation (TEX) Stock Rating Upgraded by Zacks Investment Research

Terex Corporation (NYSE:TEX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $51.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.26% from the company’s previous close.

According to Zacks, “Terex will continue to benefit from progress on capital allocation strategy. Its focus on portfolio restructuring and cost-saving initiatives is likely to boost results in the near term. Terex has sold its remaining shares in Konecranes and received approximately $773 million for the sale of the 19.6 million shares of Konecranes. This brings the total consideration received for the disposition of the Material Handling & Port Solution segment to $1.6 billion. The sale of the segment was in sync with efforts to simplify structure in a bid to improve efficiency and enhance global competitiveness. The stock outperformed the industry over the past year. The company has a mixed record of earnings surprises in the last few quarters.”

Several other brokerages also recently issued reports on TEX. UBS AG restated a “buy” rating and issued a $44.00 price objective (up from $40.00) on shares of Terex Corporation in a research report on Tuesday, August 8th. Deutsche Bank AG set a $44.00 price objective on Terex Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. TheStreet upgraded Terex Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. BMO Capital Markets restated a “hold” rating and issued a $35.00 price objective on shares of Terex Corporation in a research report on Monday, August 21st. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $38.00 price objective on shares of Terex Corporation in a research report on Wednesday, September 13th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $39.71.

Terex Corporation (NYSE:TEX) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. Terex Corporation’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share.

Terex Corporation declared that its board has authorized a stock buyback program on Wednesday, September 6th that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

WARNING: This report was first reported by Stock Observer and is the property of of Stock Observer. If you are viewing this report on another website, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this report can be accessed at https://www.thestockobserver.com/2017/10/13/terex-corporation-tex-stock-rating-upgraded-by-zacks-investment-research.html.

In other Terex Corporation news, Director David A. Sachs bought 3,000 shares of Terex Corporation stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average cost of $37.97 per share, for a total transaction of $113,910.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eric I. Cohen sold 10,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the transaction, the vice president now owns 195,980 shares in the company, valued at $8,819,100. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 4,264 shares of company stock worth $165,731 and have sold 98,679 shares worth $3,981,710. Corporate insiders own 2.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. M&T Bank Corp lifted its position in Terex Corporation by 1.5% during the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock worth $279,000 after buying an additional 130 shares during the period. Thrivent Financial For Lutherans lifted its position in Terex Corporation by 8.3% during the first quarter. Thrivent Financial For Lutherans now owns 19,920 shares of the industrial products company’s stock worth $625,000 after buying an additional 1,520 shares during the period. Legal & General Group Plc lifted its position in Terex Corporation by 5.7% during the second quarter. Legal & General Group Plc now owns 170,769 shares of the industrial products company’s stock worth $6,400,000 after buying an additional 9,152 shares during the period. AHL Partners LLP lifted its position in Terex Corporation by 7.6% during the second quarter. AHL Partners LLP now owns 77,063 shares of the industrial products company’s stock worth $2,890,000 after buying an additional 5,423 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Terex Corporation by 13.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,515 shares of the industrial products company’s stock worth $267,000 after buying an additional 1,014 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Terex Corporation Company Profile

Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.

Analyst Recommendations for Terex Corporation (NYSE:TEX)

Receive News & Ratings for Terex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply