Terex (NYSE:TEX) Raised to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Terex (NYSE:TEX - Free Report) from a neutral rating to an outperform rating in a report published on Tuesday, MarketBeat.com reports. The brokerage currently has $66.00 price objective on the industrial products company's stock, up from their previous price objective of $48.00.

Other research analysts also recently issued research reports about the company. Citigroup reduced their target price on Terex from $45.00 to $36.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. upped 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. Morgan Stanley reduced their target price on Terex from $43.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Evercore ISI reduced their target price on Terex from $63.00 to $59.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Finally, StockNews.com downgraded Terex from a "hold" rating to a "sell" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $49.10.

Terex Trading Up 2.4%

TEX traded up $1.12 during midday trading on Tuesday, reaching $48.02. 1,047,854 shares of the company's stock traded hands, compared to its average volume of 911,690. The firm has a fifty day moving average of $37.98 and a two-hundred day moving average of $44.61. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 4.53 and a beta of 1.52. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. Terex has a 52 week low of $31.53 and a 52 week high of $68.08.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.26. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.26 billion. Terex had a return on equity of 21.99% and a net margin of 6.54%. Terex's quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.60 EPS. On average, equities analysts anticipate that Terex will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.17 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.42%. Terex's payout ratio is currently 18.53%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Terex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zimmer Partners LP lifted its position in Terex by 38.9% in the 1st quarter. Zimmer Partners LP now owns 250,000 shares of the industrial products company's stock valued at $9,445,000 after acquiring an additional 70,000 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Terex by 13.5% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 15,781 shares of the industrial products company's stock valued at $596,000 after buying an additional 1,871 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Terex by 3.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,092,189 shares of the industrial products company's stock valued at $41,263,000 after buying an additional 40,077 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Terex by 427.2% during the 1st quarter. Jones Financial Companies Lllp now owns 3,506 shares of the industrial products company's stock valued at $132,000 after buying an additional 2,841 shares during the period. Finally, Petrus Trust Company LTA bought a new position in shares of Terex during the 1st quarter valued at $214,000. 92.88% of the stock is owned by 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.