Terex (NYSE:TEX) Stock Rating Lowered by Wells Fargo & Co

Terex (NYSE:TEX) was downgraded by analysts at Wells Fargo & Co from an “equal weight” rating to an “underweight” rating in a report issued on Tuesday, Marketbeat reports. They currently have a $28.00 price objective on the industrial products company’s stock. Wells Fargo & Co‘s price objective indicates a potential downside of 0.21% from the company’s current price.

TEX has been the topic of several other reports. Morgan Stanley set a $30.00 price target on Terex and gave the stock a “hold” rating in a research report on Friday, November 1st. Goldman Sachs Group upgraded Terex from a “neutral” rating to a “buy” rating and raised their price target for the stock from $25.00 to $37.00 in a research report on Friday, November 8th. BMO Capital Markets set a $25.00 price target on Terex and gave the stock a “hold” rating in a research report on Thursday, October 10th. Citigroup lowered Terex from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $27.00 to $24.00 in a research report on Tuesday, October 15th. Finally, Cfra lowered Terex from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $30.20.

NYSE TEX opened at $28.06 on Tuesday. Terex has a 52 week low of $22.84 and a 52 week high of $38.57. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.28 and a current ratio of 2.21. The stock has a market capitalization of $1.99 billion, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 1.90 and a beta of 1.77. The stock has a fifty day moving average of $29.27 and a 200-day moving average of $27.95.

Terex (NYSE:TEX) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.01). Terex had a positive return on equity of 29.17% and a negative net margin of 0.07%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. Equities research analysts forecast that Terex will post 3.08 earnings per share for the current fiscal year.

In other Terex news, SVP Kevin A. Barr sold 4,939 shares of Terex stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $30.11, for a total transaction of $148,713.29. Following the transaction, the senior vice president now directly owns 79,313 shares in the company, valued at $2,388,114.43. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kevin A. Barr sold 9,112 shares of Terex stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $28.55, for a total value of $260,147.60. Following the transaction, the insider now owns 99,129 shares in the company, valued at $2,830,132.95. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 1,044 shares of company stock worth $30,077 and have sold 50,051 shares worth $1,428,301. Insiders own 4.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. AE Wealth Management LLC lifted its holdings in shares of Terex by 1.6% in the third quarter. AE Wealth Management LLC now owns 25,735 shares of the industrial products company’s stock valued at $668,000 after purchasing an additional 396 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Terex by 2.7% in the third quarter. State of Michigan Retirement System now owns 19,000 shares of the industrial products company’s stock valued at $493,000 after purchasing an additional 500 shares in the last quarter. Fox Run Management L.L.C. lifted its holdings in shares of Terex by 5.3% in the third quarter. Fox Run Management L.L.C. now owns 10,335 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 518 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Terex by 4.5% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 18,678 shares of the industrial products company’s stock valued at $485,000 after purchasing an additional 809 shares in the last quarter. Finally, Mason Street Advisors LLC lifted its holdings in shares of Terex by 2.9% in the third quarter. Mason Street Advisors LLC now owns 34,352 shares of the industrial products company’s stock valued at $892,000 after purchasing an additional 955 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

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.

Featured Article: What sectors are represented in the Nikkei Index?

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.