Terex (NYSE:TEX) Lowered to “Hold” at StockNews.com

Terex (NYSE:TEXGet Rating) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

A number of other analysts have also weighed in on the stock. TheStreet lowered shares of Terex from a “b-” rating to a “c+” rating in a research report on Thursday, July 7th. Credit Suisse Group increased their price objective on shares of Terex from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. Morgan Stanley increased their price objective on shares of Terex from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Monday, August 8th. KeyCorp raised their target price on shares of Terex from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, August 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Terex from $57.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.25.

Terex Stock Down 3.2 %

Shares of NYSE TEX opened at $31.74 on Thursday. The company has a current ratio of 2.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. Terex has a 12-month low of $26.64 and a 12-month high of $51.45. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 9.59, a P/E/G ratio of 0.48 and a beta of 1.60. The firm’s 50-day moving average price is $33.82 and its 200-day moving average price is $33.79.

Terex (NYSE:TEXGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.20. Terex had a net margin of 5.73% and a return on equity of 21.46%. During the same period last year, the company posted $1.02 EPS. On average, equities research analysts anticipate that Terex will post 4.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Terex

A number of hedge funds and other institutional investors have recently modified their holdings of TEX. William Blair Investment Management LLC bought a new position in shares of Terex during the second quarter valued at approximately $29,743,000. Pzena Investment Management LLC boosted its stake in shares of Terex by 31.3% during the second quarter. Pzena Investment Management LLC now owns 4,450,787 shares of the industrial products company’s stock valued at $121,818,000 after purchasing an additional 1,060,041 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Terex by 579.5% during the second quarter. Federated Hermes Inc. now owns 664,258 shares of the industrial products company’s stock valued at $18,182,000 after purchasing an additional 566,507 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Terex by 110.8% in the first quarter. Renaissance Technologies LLC now owns 833,600 shares of the industrial products company’s stock valued at $29,726,000 after acquiring an additional 438,200 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Terex by 49.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,319,307 shares of the industrial products company’s stock valued at $57,984,000 after acquiring an additional 437,319 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Terex (NYSE:TEX)

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