Terex Corp. (TEX) Sees Large Volume Increase
Shares of Terex Corp. (NYSE:TEX) saw an uptick in trading volume on Thursday . 2,663,518 shares traded hands during trading, an increase of 94% from the previous session’s volume of 1,372,169 shares.The stock last traded at $24.00 and had previously closed at $24.02.
A number of brokerages recently issued reports on TEX. Robert W. Baird upgraded Terex Corp. from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $24.00 to $30.00 in a research note on Tuesday, May 17th. Royal Bank Of Canada boosted their price objective on Terex Corp. from $22.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 17th. Wells Fargo & Co. upgraded Terex Corp. from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 17th. Jefferies Group reiterated a “buy” rating on shares of Terex Corp. in a research note on Monday, May 16th. Finally, Evercore ISI downgraded Terex Corp. from a “buy” rating to a “hold” rating and cut their price objective for the company from $31.00 to $21.00 in a research note on Friday, May 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $23.43.
The firm’s 50 day moving average is $22.61 and its 200-day moving average is $22.71. The company has a market cap of $2.63 billion and a P/E ratio of 49.07.
Terex Corp. (NYSE:TEX) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.54 by $0.10. During the same period in the previous year, the business posted $0.78 earnings per share. The business earned $1.30 billion during the quarter, compared to analyst estimates of $1.61 billion. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities research analysts forecast that Terex Corp. will post $0.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Shareholders of record on Wednesday, August 10th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Monday, August 8th.
In other Terex Corp. news, CFO Kevin Bradley sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $20.74, for a total value of $248,880.00. Following the sale, the chief financial officer now directly owns 193,126 shares of the company’s stock, valued at $4,005,433.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew Fearon sold 2,250 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $21.00, for a total value of $47,250.00. Following the completion of the sale, the insider now directly owns 118,719 shares in the company, valued at $2,493,099. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Terex Corp. stock. Airain ltd raised its stake in shares of Terex Corp. (NYSE:TEX) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,715 shares of the company’s stock after buying an additional 986 shares during the period. Airain ltd owned 0.07% of Terex Corp. worth $1,436,000 at the end of the most recent reporting period.
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.