Terex (NYSE:TEX) Upgraded to Buy at The Goldman Sachs Group

Terex (NYSE:TEX - Get Free Report) was upgraded by stock analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $60.00 target price on the industrial products company's stock, up from their prior target price of $45.00. The Goldman Sachs Group's price target suggests a potential upside of 33.24% from the stock's current price.

Several other research firms have also issued reports on TEX. Baird R W upgraded shares of Terex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. UBS Group raised Terex from a "sell" rating to a "neutral" rating and raised their price target for the company from $34.00 to $48.00 in a report on Friday, May 16th. Robert W. Baird upgraded shares of Terex from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $48.00 to $66.00 in a research report on Tuesday, May 13th. Morgan Stanley decreased their price target on Terex from $43.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Barclays lowered their target price on shares of Terex from $60.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday, February 10th. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $50.20.

Terex Stock Down 2.0%

NYSE TEX traded down $0.91 on Tuesday, reaching $45.03. The stock had a trading volume of 761,361 shares, compared to its average volume of 923,719. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 9.08, a P/E/G ratio of 4.53 and a beta of 1.52. The business has a 50 day moving average price of $39.41 and a 200 day moving average price of $44.04. Terex has a 1 year low of $31.53 and a 1 year high of $68.08. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.26. The company had revenue of $1.23 billion for 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%. The business's revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.60 earnings per share. On average, analysts forecast that Terex will post 4.83 EPS for the current fiscal year.

Insider Buying and Selling at Terex

In related news, Director Andra Rush bought 1,325 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $36.96 per share, with a total value of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares in the company, valued at $861,463.68. The trade was a 6.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joshua Gross sold 5,389 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were 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 $1,579,266.25. This trade represents a 12.21% decrease in their ownership of the stock. 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

A number of institutional investors have recently added to or reduced their stakes in TEX. UMB Bank n.a. lifted its position in shares of 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 buying an additional 332 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Terex in the fourth quarter valued at approximately $29,000. Private Trust Co. NA grew its holdings in shares of Terex by 128.0% during the 1st quarter. Private Trust Co. NA now owns 773 shares of the industrial products company's stock worth $29,000 after purchasing an additional 434 shares in the last quarter. Strs Ohio acquired a new stake in Terex during the first quarter worth about $30,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Terex during the 4th quarter worth approximately $31,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

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.