Terex Co. (TEX) Stock Rating Upgraded by OTR Global
Terex Co. (NYSE:TEX) was upgraded by equities researchers at OTR Global to a “positive” rating in a note issued to investors on Friday.
TEX has been the topic of several other research reports. Zacks Investment Research lowered Terex from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $33.00 price target (up previously from $24.00) on shares of Terex in a report on Wednesday, December 14th. Credit Suisse Group AG set a $38.00 price target on Terex and gave the stock a “buy” rating in a report on Saturday, February 25th. lowered Terex from a “buy” rating to an “underperform” rating in a report on Friday, November 18th. Finally, Citigroup Inc began coverage on Terex in a report on Monday, February 6th. They issued a “neutral” rating and a $36.00 price target on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $29.00.
Terex (NYSE:TEX) opened at 30.82 on Friday. Terex has a 12-month low of $18.91 and a 12-month high of $33.87. The firm’s market capitalization is $3.26 billion. The company’s 50 day moving average price is $31.52 and its 200-day moving average price is $28.61.
Terex (NYSE:TEX) last announced its quarterly earnings results on Tuesday, February 21st. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.12. The business had revenue of $974.70 million for the quarter, compared to analyst estimates of $918.81 million. Terex had a return on equity of 7.39% and a net margin of 2.01%. The company’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. On average, equities analysts anticipate that Terex will post $0.83 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 20th. Stockholders of record on Friday, March 10th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, March 8th. This is a positive change from Terex’s previous quarterly dividend of $0.07. Terex’s dividend payout ratio (DPR) is currently 28.57%.
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In other news, insider Steve Filipov sold 5,215 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $30.14, for a total value of $157,180.10. Following the transaction, the insider now owns 137,425 shares in the company, valued at $4,141,989.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G Chris Andersen sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $31.06, for a total value of $310,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders bought 414 shares of company stock worth $13,343 and sold 25,215 shares worth $767,780. 3.70% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Creative Planning increased its stake in shares of Terex by 3.1% in the third quarter. Creative Planning now owns 8,864 shares of the company’s stock worth $225,000 after buying an additional 264 shares during the last quarter. US Bancorp DE increased its stake in shares of Terex by 6.8% in the third quarter. US Bancorp DE now owns 6,979 shares of the company’s stock worth $177,000 after buying an additional 444 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of Terex by 7.0% in the third quarter. LS Investment Advisors LLC now owns 7,113 shares of the company’s stock worth $181,000 after buying an additional 465 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Terex by 0.8% in the third quarter. Nisa Investment Advisors LLC now owns 76,620 shares of the company’s stock worth $1,947,000 after buying an additional 600 shares during the last quarter. Finally, Community Financial Services Group LLC increased its stake in shares of Terex by 0.4% in the third quarter. Community Financial Services Group LLC now owns 150,207 shares of the company’s stock worth $3,817,000 after buying an additional 630 shares during the last quarter. 84.32% of the stock is owned by institutional investors.
Terex 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.
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