ValuEngine Upgrades Terex (TEX) to Sell

ValuEngine upgraded shares of Terex (NYSE:TEX) from a strong sell rating to a sell rating in a research note published on Thursday.

TEX has been the subject of a number of other research reports. Seaport Global Securities set a $49.00 target price on shares of Terex and gave the stock a buy rating in a research report on Friday, July 13th. Zacks Investment Research raised shares of Terex from a sell rating to a hold rating in a research report on Thursday, October 4th. UBS Group set a $52.00 target price on shares of Terex and gave the stock a buy rating in a research report on Wednesday, August 22nd. Bank of America boosted their target price on shares of Terex from $36.00 to $40.00 and gave the stock an underperform rating in a research report on Wednesday, August 1st. Finally, Robert W. Baird raised shares of Terex from an underperform rating to a neutral rating and set a $38.00 target price for the company in a research report on Monday, August 20th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $44.33.

Shares of TEX stock traded down $4.82 on Thursday, hitting $31.18. The company’s stock had a trading volume of 4,795,982 shares, compared to its average volume of 1,391,262. 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 fifty-two week low of $28.64 and a fifty-two week high of $50.17. The firm has a market cap of $2.30 billion, a PE ratio of 23.10, a PEG ratio of 0.46 and a beta of 1.61.

Terex (NYSE:TEX) last released its quarterly earnings data on Thursday, November 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.07). Terex had a net margin of 2.42% and a return on equity of 18.39%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts forecast that Terex will post 2.65 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders 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 dividend yield of 1.28%. The ex-dividend date is Thursday, November 8th. Terex’s dividend payout ratio is currently 29.63%.

Terex declared that its Board of Directors has approved a share buyback plan on Thursday, July 12th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

In other news, insider Steve Filipov sold 6,929 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $38.85, for a total transaction of $269,191.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin A. Barr sold 11,937 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $38.43, for a total transaction of $458,738.91. Following the transaction, the insider now directly owns 101,980 shares of the company’s stock, valued at approximately $3,919,091.40. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 1,344 shares of company stock valued at $52,633 and have sold 38,866 shares valued at $1,514,531. 3.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in TEX. Stratos Wealth Partners LTD. acquired a new position in shares of Terex during the third quarter valued at about $109,000. Delta Capital Management LLC bought a new stake in Terex in the second quarter valued at about $212,000. Lido Advisors LLC bought a new stake in Terex in the second quarter valued at about $246,000. Strs Ohio bought a new stake in Terex in the second quarter valued at about $307,000. Finally, Pinnacle Associates Ltd. increased its stake in Terex by 32.4% in the second quarter. Pinnacle Associates Ltd. now owns 8,170 shares of the industrial products company’s stock valued at $345,000 after acquiring an additional 2,001 shares during the period.

Terex Company Profile

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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Analyst Recommendations for Terex (NYSE:TEX)

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