Evercore ISI Forecasts Strong Price Appreciation for Terex (NYSE:TEX) Stock

Terex (NYSE:TEX - Get Free Report) had its target price boosted by stock analysts at Evercore ISI from $59.00 to $62.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the industrial products company's stock. Evercore ISI's target price would suggest a potential upside of 29.11% from the company's current price.

Several other equities analysts have also recently issued reports on the company. Citigroup lowered their price target on Terex from $45.00 to $36.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. StockNews.com lowered Terex from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. Baird R W upgraded Terex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. boosted their target price on Terex from $38.00 to $43.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Finally, Barclays dropped their target price on shares of Terex from $60.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $49.40.

Terex Stock Up 2.4%

TEX opened at $48.02 on Monday. The company has a market cap of $3.18 billion, a PE ratio of 9.68, a P/E/G ratio of 4.53 and a beta of 1.52. The business has a 50 day moving average price of $38.13 and a two-hundred day moving average price of $44.47. Terex has a 52 week low of $31.53 and a 52 week high of $68.08. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.26. Terex had a return on equity of 21.99% and a net margin of 6.54%. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The business's revenue was down 4.9% on a year-over-year basis. As a group, research analysts anticipate that Terex will post 4.83 EPS for the current year.

Insider Transactions at Terex

In other news, Director Andra Rush acquired 1,325 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $36.96 per share, with a total value of $48,972.00. Following the completion of the acquisition, the director now owns 23,308 shares of the company's stock, valued at $861,463.68. This trade represents a 6.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joshua Gross sold 5,389 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $40.75, for a total transaction of $219,601.75. Following the completion of the transaction, the insider now directly owns 38,755 shares in the company, valued at $1,579,266.25. The trade was a 12.21% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Terex

Hedge funds have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management acquired a new stake in shares of Terex during the fourth quarter worth $29,000. Jones Financial Companies Lllp acquired a new stake in Terex in the fourth quarter valued at $31,000. Smartleaf Asset Management LLC lifted its holdings in Terex by 46.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 222 shares during the period. UMB Bank n.a. lifted its holdings in Terex by 83.0% in the first quarter. UMB Bank n.a. now owns 732 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 332 shares during the period. Finally, Private Trust Co. NA lifted its holdings in Terex by 128.0% in the first quarter. Private Trust Co. NA now owns 773 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 434 shares during the period. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

About Terex

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.

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