Terex (TEX) Price Target Cut to $35.00 by Analysts at BMO Capital Markets
Terex (NYSE:TEX) had its price objective decreased by BMO Capital Markets to $35.00 in a research report sent to investors on Monday morning, The Fly reports. BMO Capital Markets currently has a market perform rating on the industrial products company’s stock.
TEX has been the subject of several other research reports. ValuEngine downgraded shares of Terex from a buy rating to a hold rating in a research report on Monday, July 30th. Bank of America reduced their price target on shares of Terex from $40.00 to $28.00 and set an underperform rating for the company in a research report on Friday, November 2nd. Morgan Stanley reduced their price target on shares of Terex from $46.00 to $42.00 and set a hold rating for the company in a research report on Monday, November 5th. Zacks Investment Research raised shares of Terex from a sell rating to a hold rating in a research report on Thursday, October 4th. Finally, UBS Group set a $52.00 price target on shares of Terex and gave the company a buy rating in a research report on Wednesday, August 22nd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Terex presently has an average rating of Hold and an average target price of $40.83.
Shares of NYSE TEX opened at $30.87 on Monday. Terex has a fifty-two week low of $28.64 and a fifty-two week high of $50.17. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 0.59 and a beta of 1.61. The company has a quick ratio of 1.14, a current ratio of 2.22 and a debt-to-equity ratio of 1.16.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Friday, November 9th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.30%. The ex-dividend date is Thursday, November 8th. Terex’s dividend payout ratio is currently 29.63%.
In related news, insider Kevin A. Barr sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $39.65, for a total value of $396,500.00. Following the sale, the insider now owns 113,908 shares in the company, valued at $4,516,452.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steve Filipov sold 6,929 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $38.85, for a total transaction of $269,191.65. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 1,445 shares of company stock worth $52,655 and sold 38,866 shares worth $1,514,531. Company insiders own 3.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of TEX. TIAA CREF Investment Management LLC boosted its holdings in Terex by 116.3% in the third quarter. TIAA CREF Investment Management LLC now owns 6,096,257 shares of the industrial products company’s stock worth $243,302,000 after purchasing an additional 3,277,715 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Terex by 559.4% during the 3rd quarter. Fisher Asset Management LLC now owns 2,196,079 shares of the industrial products company’s stock worth $87,646,000 after acquiring an additional 1,863,038 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd boosted its stake in shares of Terex by 640.1% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,529,116 shares of the industrial products company’s stock worth $61,027,000 after acquiring an additional 1,322,504 shares during the last quarter. LSV Asset Management purchased a new position in shares of Terex during the 3rd quarter worth $16,094,000. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Terex during the 2nd quarter worth $16,876,000.
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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