Terex (NYSE:TEX) Hits New 52-Week High – Time to Buy?

Terex Corporation (NYSE:TEX)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $63.11 and last traded at $63.1990, with a volume of 2008544 shares trading hands. The stock had previously closed at $58.99.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Terex in a research report on Wednesday, January 21st. UBS Group lowered their price target on shares of Terex from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Wells Fargo & Company increased their price objective on Terex from $50.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Wall Street Zen lowered shares of Terex from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 21st. Finally, Morgan Stanley upgraded shares of Terex from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $47.00 to $60.00 in a report on Wednesday, December 10th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Terex currently has an average rating of “Moderate Buy” and an average target price of $59.18.

Terex Stock Performance

The stock has a market capitalization of $4.15 billion, a PE ratio of 26.89, a PEG ratio of 5.15 and a beta of 1.67. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.15 and a quick ratio of 1.20. The business has a 50 day moving average price of $54.73 and a 200 day moving average price of $52.06.

Institutional Trading of Terex

A number of large investors have recently made changes to their positions in TEX. Denali Advisors LLC bought a new position in Terex in the fourth quarter valued at about $1,674,000. Sequoia Financial Advisors LLC lifted its position in shares of Terex by 28.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,246 shares of the industrial products company’s stock valued at $333,000 after acquiring an additional 1,374 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Terex by 7.0% in the 4th quarter. New York State Teachers Retirement System now owns 75,757 shares of the industrial products company’s stock worth $4,044,000 after purchasing an additional 4,972 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Terex by 11.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 48,864 shares of the industrial products company’s stock worth $2,608,000 after acquiring an additional 4,880 shares during the last quarter. Finally, Comerica Bank lifted its stake in Terex by 23.0% in the 4th quarter. Comerica Bank now owns 46,780 shares of the industrial products company’s stock worth $2,497,000 after purchasing an additional 8,736 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors.

Terex Company Profile

Terex Corporation is a global manufacturer of lifting and material-handling plant and equipment, serving a range of industries that includes construction, infrastructure, energy, manufacturing and shipping logistics. Its product portfolio encompasses aerial work platforms, rough terrain and tower cranes, port and cargo handling equipment, material processing machinery and utility products. These offerings are marketed under well-known brands such as Genie®, Terex® AWP, Terex® Cranes, Demag®, and Powerscreen®, and are designed to meet diverse application requirements from building sites to industrial facilities and ports.

Headquartered in Westport, Connecticut, Terex traces its roots back to 1933 and has grown through strategic acquisitions and organic expansion.