Terex (NYSE:TEX) Upgraded by Bank of America to “Buy”

Terex (NYSE:TEXGet Rating) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, The Fly reports.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Terex from $61.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, March 28th. Wells Fargo & Company began coverage on shares of Terex in a report on Friday, March 11th. They issued an “overweight” rating and a $64.00 price target for the company. StockNews.com began coverage on shares of Terex in a report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley lowered their price target on shares of Terex from $53.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, April 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Terex from $65.00 to $61.00 in a report on Monday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Terex has a consensus rating of “Buy” and an average price target of $53.92.

NYSE TEX opened at $31.98 on Friday. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.49 and a beta of 1.51. The company has a 50 day moving average of $35.85 and a 200-day moving average of $41.40. The company has a current ratio of 2.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.66. Terex has a 1-year low of $30.91 and a 1-year high of $55.58.

Terex (NYSE:TEXGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The industrial products company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.27. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $979.13 million. Terex had a net margin of 5.78% and a return on equity of 21.36%. On average, analysts forecast that Terex will post 3.81 earnings per share for the current year.

In other Terex news, VP Scott Posner sold 3,853 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $36.14, for a total value of $139,247.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in TEX. First Trust Advisors LP boosted its position in shares of Terex by 222.7% during the first quarter. First Trust Advisors LP now owns 67,715 shares of the industrial products company’s stock worth $2,176,000 after purchasing an additional 46,730 shares in the last quarter. Morgan Stanley boosted its position in shares of Terex by 56.1% during the second quarter. Morgan Stanley now owns 525,891 shares of the industrial products company’s stock worth $25,042,000 after purchasing an additional 188,984 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in shares of Terex by 473.9% during the third quarter. Advisor Group Holdings Inc. now owns 17,899 shares of the industrial products company’s stock worth $754,000 after purchasing an additional 14,780 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of Terex during the third quarter worth $26,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Terex by 24.3% during the third quarter. Russell Investments Group Ltd. now owns 117,949 shares of the industrial products company’s stock worth $4,969,000 after purchasing an additional 23,052 shares in the last quarter. 85.46% of the stock is currently owned by institutional investors.

Terex Company Profile (Get Rating)

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.

See Also

The Fly logo

Analyst Recommendations for Terex (NYSE:TEX)

Receive News & Ratings for Terex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex and related companies with MarketBeat.com's FREE daily email newsletter.