Terex (TEX) Downgraded by ValuEngine to Sell

Terex (NYSE:TEX) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday, October 2nd.

A number of other research analysts also recently commented on the stock. Deutsche Bank reaffirmed a “sell” rating and issued a $34.00 price target on shares of Terex in a report on Wednesday, September 5th. UBS Group set a $52.00 price target on shares of Terex and gave the company a “buy” rating in a report on Wednesday, August 22nd. Robert W. Baird raised shares of Terex from an “underperform” rating to a “neutral” rating and set a $38.00 price target for the company in a report on Monday, August 20th. Bank of America increased their price target on shares of Terex from $36.00 to $40.00 and gave the company an “underperform” rating in a report on Wednesday, August 1st. Finally, Wells Fargo & Co downgraded shares of Terex from an “outperform” rating to a “market perform” rating in a report on Thursday, July 19th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Terex currently has a consensus rating of “Hold” and a consensus target price of $45.50.

Shares of NYSE:TEX opened at $39.92 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 2.11 and a debt-to-equity ratio of 1.15. Terex has a 12 month low of $35.30 and a 12 month high of $50.17. The stock has a market capitalization of $2.94 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52.

Terex (NYSE:TEX) last announced its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.08. Terex had a net margin of 2.91% and a return on equity of 16.66%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. On average, sell-side analysts forecast that Terex will post 2.9 earnings per share for the current year.

Terex announced that its board has authorized a share buyback program on Thursday, July 12th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, VP Eric I. Cohen sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $39.01, for a total transaction of $390,100.00. Following the transaction, the vice president now directly owns 182,905 shares of the company’s stock, valued at $7,135,124.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kevin A. Barr sold 11,937 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was 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 in the company, valued at $3,919,091.40. The disclosure for this sale can be found here. Over the last three months, insiders purchased 964 shares of company stock worth $37,593 and sold 38,866 shares worth $1,514,531. Corporate insiders own 3.50% of the company’s stock.

Large investors have recently modified their holdings of the company. Summit Trail Advisors LLC increased its position in shares of Terex by 3,247.4% during the first quarter. Summit Trail Advisors LLC now owns 159,937 shares of the industrial products company’s stock worth $160,000 after acquiring an additional 155,159 shares during the period. Delta Capital Management LLC purchased a new position in shares of Terex during the second quarter worth approximately $212,000. Lido Advisors LLC purchased a new position in shares of Terex during the second quarter worth approximately $246,000. Strs Ohio purchased a new position in shares of Terex during the second quarter worth approximately $307,000. Finally, Pinnacle Associates Ltd. increased its position in shares of Terex by 32.4% during the second quarter. Pinnacle Associates Ltd. now owns 8,170 shares of the industrial products company’s stock worth $345,000 after acquiring an additional 2,001 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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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