Analysts Set Terex Co. (TEX) Target Price at $45.20
Shares of Terex Co. (NYSE:TEX) have been given a consensus recommendation of “Hold” by the twenty-one brokerages that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $45.20.
A number of equities research analysts recently issued reports on the company. Seaport Global Securities set a $49.00 price objective on Terex and gave the stock a “buy” rating in a research report on Friday, July 13th. Robert W. Baird downgraded Terex from a “neutral” rating to an “underperform” rating and set a $38.00 price objective on the stock. in a research report on Tuesday, July 10th. ValuEngine upgraded Terex from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Wells Fargo & Co downgraded Terex from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 19th. Finally, Zacks Investment Research upgraded Terex from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Tuesday, July 17th.
Shares of TEX stock opened at $36.29 on Wednesday. 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 has a 52-week low of $35.30 and a 52-week high of $50.17. The firm has a market capitalization of $2.94 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52.
Terex announced that its board has authorized a share buyback plan on Thursday, July 12th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Friday, November 9th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.10%. Terex’s payout ratio is 29.63%.
In other news, insider Steve Filipov sold 6,929 shares of Terex stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $38.85, for a total value of $269,191.65. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Eric I. Cohen sold 10,000 shares of Terex stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $39.01, for a total value of $390,100.00. Following the completion of the transaction, the vice president now owns 182,905 shares in the company, valued at approximately $7,135,124.05. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 1,344 shares of company stock worth $52,633 and have sold 38,866 shares worth $1,514,531. Company insiders own 3.50% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TEX. Summit Trail Advisors LLC increased its holdings 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 during the period. Delta Capital Management LLC purchased a new position in shares of Terex in the second quarter worth about $212,000. Lido Advisors LLC purchased a new position in shares of Terex in the second quarter worth about $246,000. Strs Ohio purchased a new position in shares of Terex in the second quarter worth about $307,000. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Terex by 32.4% in the second quarter. Pinnacle Associates Ltd. now owns 8,170 shares of the industrial products company’s stock worth $345,000 after buying an additional 2,001 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.
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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