The Goldman Sachs Group Upgrades Terex (NYSE:TEX) to Buy

Terex (NYSE:TEX) was upgraded by The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday,Finviz reports. The brokerage currently has a $60.00 price objective on the industrial products company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 34.51% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Evercore ISI increased their price objective on Terex from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Citigroup decreased their price target on shares of Terex from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley dropped their price objective on shares of Terex from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Robert W. Baird raised shares of Terex from a “neutral” rating to an “outperform” rating and upped their target price for the company from $48.00 to $66.00 in a report on Tuesday, May 13th. Finally, Wall Street Zen raised Terex from a “sell” rating to a “hold” rating in a report on Wednesday, May 21st. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $50.20.

Terex Price Performance

Shares of NYSE:TEX opened at $44.61 on Tuesday. Terex has a 12 month low of $31.53 and a 12 month high of $68.08. The firm has a market capitalization of $2.96 billion, a P/E ratio of 8.99, a P/E/G ratio of 4.53 and a beta of 1.52. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. The company’s fifty day moving average price is $38.92 and its 200 day moving average price is $44.13.

Terex (NYSE:TEX) last posted its earnings results on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.26. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Terex had a return on equity of 21.99% and a net margin of 6.54%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 earnings per share. As a group, sell-side analysts predict that Terex will post 4.83 earnings per share for the current fiscal year.

Insider Transactions at Terex

In other Terex news, insider Joshua Gross sold 5,389 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $40.75, for a total value of $219,601.75. Following the completion of the transaction, the insider now directly owns 38,755 shares of the company’s stock, valued at approximately $1,579,266.25. This trade represents a 12.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andra Rush purchased 1,325 shares of Terex stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $36.96 per share, with a total value of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares in the company, valued at approximately $861,463.68. This trade represents a 6.03% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

Hedge funds have recently bought and sold shares of the company. FMR LLC grew its holdings in Terex by 17.0% in the fourth quarter. FMR LLC now owns 8,782,287 shares of the industrial products company’s stock valued at $405,917,000 after purchasing an additional 1,272,920 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Terex by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 6,749,354 shares of the industrial products company’s stock worth $254,991,000 after buying an additional 44,254 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Terex by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,050,434 shares of the industrial products company’s stock valued at $115,247,000 after acquiring an additional 87,194 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Terex by 8.8% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,338,868 shares of the industrial products company’s stock valued at $88,362,000 after acquiring an additional 188,195 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Terex by 43.2% during the 4th quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company’s stock valued at $89,247,000 after acquiring an additional 582,819 shares in the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

About Terex

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.