Terex (NYSE:TEX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday. The firm presently has a $50.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 18.37% from the company’s current price.
According to Zacks, “Terex Corporation’s fourth-quarter 2017 adjusted earnings and revenues both improved on a year-over-year basis and also beat the Zacks Consensus Estimate. Improved global markets, operational execution, bookings and backlog in every segment led to the overall improved performance in the quarter. All these factors position the company well for 2018 as well. The company anticipates net sales to be up around 10% year over year in 2018 and earnings per share to be between $2.35 and $2.65. The mid-point of the earnings guidance reflects year-over-year growth of 85%. Terex expects to increase revenues and operating margins in every business segment while continuing to implement the Simplify and Execute to Win elements of its strategy, and follow its disciplined capital allocation strategy. Further, innovative product development and cost-saving initiatives will boost the company’s results.”
Several other research firms have also recently commented on TEX. Robert W. Baird reiterated a “buy” rating and set a $52.00 target price on shares of Terex in a research note on Thursday, December 21st. KeyCorp reiterated a “hold” rating on shares of Terex in a research note on Wednesday, November 1st. Barclays began coverage on shares of Terex in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $50.00 target price for the company. OTR Global upgraded shares of Terex to a “positive” rating in a research note on Tuesday, December 5th. Finally, ValuEngine cut shares of Terex from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.00.
Terex (NYSE:TEX) last released its earnings results on Wednesday, February 14th. The industrial products company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $999.18 million. Terex had a net margin of 2.95% and a return on equity of 8.80%. equities analysts predict that Terex will post 2.56 earnings per share for the current year.
Terex declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 7th that allows the company to repurchase $325.00 million in shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, VP Eric I. Cohen sold 10,121 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $49.90, for a total transaction of $505,037.90. Following the completion of the sale, the vice president now owns 185,897 shares in the company, valued at approximately $9,276,260.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 987 shares of company stock valued at $44,638 in the last quarter. 2.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its position in shares of Terex by 388.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 2,028 shares in the last quarter. Landaas & Co. WI ADV increased its position in shares of Terex by 602.6% during the 4th quarter. Landaas & Co. WI ADV now owns 3,513 shares of the industrial products company’s stock worth $169,000 after purchasing an additional 3,013 shares in the last quarter. Investors Research Corp acquired a new stake in shares of Terex during the 4th quarter worth about $203,000. LPL Financial LLC acquired a new stake in shares of Terex during the 4th quarter worth about $211,000. Finally, Pacer Advisors Inc. increased its position in shares of Terex by 450.2% during the 3rd quarter. Pacer Advisors Inc. now owns 4,446 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 3,638 shares in the last quarter. Institutional investors and hedge funds own 94.09% of the company’s stock.
Terex Company Profile
Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.
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