Terex (NYSE:TEX) Price Target Raised to $56.00 at KeyCorp

Terex (NYSE:TEXGet Rating) had its target price raised by KeyCorp from $50.00 to $56.00 in a research report released on Tuesday, The Fly reports. They currently have an overweight rating on the industrial products company’s stock.

TEX has been the topic of a number of other reports. Morgan Stanley boosted their price target on shares of Terex from $35.00 to $52.00 and gave the stock an equal weight rating in a research note on Wednesday, December 14th. Stifel Nicolaus boosted their price target on shares of Terex from $54.00 to $57.00 and gave the stock a buy rating in a research note on Friday, January 20th. StockNews.com upgraded shares of Terex from a hold rating to a buy rating in a research note on Monday, October 31st. Robert W. Baird upped their target price on shares of Terex from $37.00 to $46.00 and gave the stock a neutral rating in a research note on Tuesday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Terex from a buy rating to a hold rating and set a $46.00 target price on the stock. in a research note on Monday, December 5th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $49.27.

Terex Stock Up 2.7 %

Shares of TEX opened at $49.14 on Tuesday. The firm has a market cap of $3.32 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 0.53 and a beta of 1.66. Terex has a 12-month low of $26.64 and a 12-month high of $49.42. The company’s 50-day moving average price is $44.52 and its 200 day moving average price is $37.94. The company has a current ratio of 1.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.80.

Terex (NYSE:TEXGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Terex had a net margin of 6.36% and a return on equity of 24.72%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 earnings per share. On average, sell-side analysts forecast that Terex will post 4.12 earnings per share for the current year.

Terex declared that its Board of Directors has initiated a share buyback plan on Monday, December 19th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the industrial products company to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Terex

In related news, Director Paula H. Cholmondeley sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $41.22, for a total value of $824,400.00. Following the completion of the transaction, the director now directly owns 32,058 shares of the company’s stock, valued at $1,321,430.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Paula H. Cholmondeley sold 20,000 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $41.22, for a total value of $824,400.00. Following the completion of the sale, the director now directly owns 32,058 shares of the company’s stock, valued at $1,321,430.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott Posner sold 2,500 shares of the stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $44.68, for a total value of $111,700.00. Following the completion of the sale, the vice president now directly owns 62,065 shares of the company’s stock, valued at $2,773,064.20. The disclosure for this sale can be found here. Insiders sold 47,500 shares of company stock valued at $1,996,150 over the last three months. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Terex

Several large investors have recently modified their holdings of the company. SummerHaven Investment Management LLC boosted its holdings in shares of Terex by 0.9% in the fourth quarter. SummerHaven Investment Management LLC now owns 27,189 shares of the industrial products company’s stock valued at $1,162,000 after acquiring an additional 252 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Terex by 5.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,464 shares of the industrial products company’s stock valued at $162,000 after acquiring an additional 287 shares during the period. LVZ Inc. raised its stake in shares of Terex by 4.4% during the fourth quarter. LVZ Inc. now owns 7,237 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 303 shares during the last quarter. Ronald Blue Trust Inc. raised its stake in shares of Terex by 60.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,163 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 440 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Terex by 130.6% during the third quarter. Bessemer Group Inc. now owns 934 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 529 shares during the last quarter. 87.37% of the stock is owned by institutional investors and hedge funds.

About Terex

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Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment designs, manufactures, services, and markets aerial work platform equipment, utility equipment, and telehandlers under the Terex and Genie brands.

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