Terex (NYSE:TEX) Sets New 12-Month High Following Analyst Upgrade

Terex Co. (NYSE:TEX – Get Rating)’s stock price hit a new 52-week high during trading on Tuesday after KeyCorp raised their price target on the stock from $50.00 to $56.00. KeyCorp currently has an overweight rating on the stock. Terex traded as high as $48.52 and last traded at $48.47, with a volume of 104102 shares changing hands. The stock had previously closed at $47.83.

Other equities research analysts also recently issued research reports about the company. StockNews.com upgraded Terex from a “hold” rating to a “buy” rating in a research report on Monday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of Terex from $42.00 to $48.00 in a research note on Friday, December 9th. Stifel Nicolaus boosted their target price on shares of Terex from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, January 20th. Robert W. Baird boosted their target price on shares of Terex from $37.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, December 13th. Finally, Citigroup boosted their target price on shares of Terex to $45.00 in a research note on Tuesday, November 1st. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Terex

Several hedge funds have recently made changes to their positions in TEX. Raymond James & Associates lifted its stake in shares of Terex by 17.7% in the first quarter. Raymond James & Associates now owns 39,745 shares of the industrial products company’s stock valued at $1,417,000 after buying an additional 5,990 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Terex in the first quarter valued at about $291,000. PNC Financial Services Group Inc. lifted its stake in shares of Terex by 106.6% in the first quarter. PNC Financial Services Group Inc. now owns 10,369 shares of the industrial products company’s stock valued at $368,000 after buying an additional 5,351 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Terex by 42.6% in the first quarter. Acadian Asset Management LLC now owns 4,984 shares of the industrial products company’s stock valued at $177,000 after buying an additional 1,488 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in shares of Terex by 40.1% in the first quarter. MetLife Investment Management LLC now owns 80,649 shares of the industrial products company’s stock valued at $2,876,000 after buying an additional 23,093 shares during the period. Institutional investors own 87.37% of the company’s stock.

Terex Price Performance

The company has a quick ratio of 0.93, a current ratio of 1.96 and a debt-to-equity ratio of 0.80. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.53 and a beta of 1.66. The company’s 50-day moving average is $44.52 and its 200-day moving average is $37.94.

Terex (NYSE:TEX – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The industrial products company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.15. The company had revenue of $1.12 billion during 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 company’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.67 earnings per share. Equities research analysts expect that Terex Co. will post 4.12 earnings per share for the current fiscal year.

Terex announced that its Board of Directors has authorized a share repurchase plan on Monday, December 19th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.