The stock of Terex Corporation (NYSE:TEX) is a huge mover today! About 1.32M shares traded hands or 39.64% up from the average. Terex Corporation (NYSE:TEX) has risen 8.87% since February 26, 2016 and is uptrending. It has underperformed by 1.55% the S&P500.
The move comes after 7 months positive chart setup for the $2.76 billion company. It was reported on Oct, 1 by Barchart.com. We have $30.46 PT which if reached, will make NYSE:TEX worth $552.00M more.
Analysts await Terex Corporation (NYSE:TEX) to report earnings on October, 18. They expect $0.21 EPS, down 63.79% or $0.37 from last year’s $0.58 per share. TEX’s profit will be $22.84M for 30.21 P/E if the $0.21 EPS becomes a reality. After $0.64 actual EPS reported by Terex Corporation for the previous quarter, Wall Street now forecasts -67.19% negative EPS growth.
Terex Corporation (NYSE:TEX) Ratings Coverage
Out of 17 analysts covering Terex Corporation (NYSE:TEX), 6 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 35% are positive. Terex Corporation has been the topic of 36 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Friday, August 26 by UBS. The stock has “Hold” rating given by BB&T Capital on Friday, July 31. Goldman Sachs maintained Terex Corporation (NYSE:TEX) on Wednesday, June 8 with “Buy” rating. The rating was downgraded by Avondale to “Mkt Perform” on Friday, January 29. The company was maintained on Wednesday, August 12 by Deutsche Bank. The firm has “Buy” rating by CLSA given on Friday, September 30. Barclays Capital downgraded Terex Corporation (NYSE:TEX) on Wednesday, September 9 to “Underweight” rating. The stock has “Equal-Weight” rating given by Morgan Stanley on Tuesday, May 31. The firm has “Outperform” rating by Robert W. Baird given on Tuesday, May 17. As per Friday, May 27, the company rating was downgraded by Evercore.
According to Zacks Investment Research, “Terex Corp. is a global manufacturer of a broad range of construction and mining related capital equipment. The company strives to manufacture high quality machines which are low cost, simple to use and easy to maintain. The company’s principal products include telescopic mobile cranes, aerial work platforms, utility aerial devices, telescopic material handlers, truck mounted mobile cranes, rigid and articulated off-highway trucks and high capacity surface mining trucks, and related components and replacement parts.”
Insitutional Activity: The institutional sentiment decreased to 0.94 in 2016 Q2. Its down 0.13, from 1.07 in 2016Q1. The ratio fall, as 55 funds sold all Terex Corporation shares owned while 73 reduced positions. 35 funds bought stakes while 85 increased positions. They now own 86.48 million shares or 7.59% more from 80.38 million shares in 2016Q1.
Nuveen Asset Mgmt Lc reported 44,899 shares or 0.01% of all its holdings. The United Kingdom-based Marshall Wace Limited Liability Partnership has invested 0.01% in Terex Corporation (NYSE:TEX). Alexandria holds 0% of its portfolio in Terex Corporation (NYSE:TEX) for 320 shares. State Treasurer State Of Michigan, a Michigan-based fund reported 43,800 shares. Liberty Management accumulated 0.55% or 40,051 shares. Pnc Svcs holds 8,875 shares or 0% of its portfolio. Leucadia Corporation last reported 0.24% of its portfolio in the stock. Teachers Retirement Systems Of The State Of Kentucky holds 0.01% of its portfolio in Terex Corporation (NYSE:TEX) for 24,100 shares. Ironwood Inv Lc has invested 0.5% of its portfolio in Terex Corporation (NYSE:TEX). Bokf Na holds 5,237 shares or 0% of its portfolio. Ubs Asset Americas owns 107,961 shares or 0% of their US portfolio. Northpointe Capital Limited Liability Company has 73,455 shares for 0.18% of their US portfolio. Fisher Asset Lc accumulated 426,562 shares or 0.02% of the stock. North Star, a Illinois-based fund reported 800 shares. Hanson And Doremus Invest Management holds 0.37% or 39,885 shares in its portfolio.
Insider Transactions: Since April 6, 2016, the stock had 29 insider buys, and 13 insider sales for $2.45 million net activity. Shares for $242,100 were sold by Ellis George. Bradley Kevin had sold 12,000 shares worth $248,880 on Thursday, June 16. On Thursday, June 2 FILIPOV STEVE sold $213,669 worth of the stock or 10,005 shares. 7,489 shares with value of $181,458 were sold by Clair Mark I on Tuesday, August 9. Another trade for 108 shares valued at $2,309 was bought by HENRY BRIAN J. BARR KEVIN A had bought 11 shares worth $220 on Friday, July 8. On Friday, June 3 the insider FEARON MATTHEW sold $47,250.
More news for Terex Corporation (NYSE:TEX) were recently published by: Businesswire.com, which released: “Terex Corporation Announces Commencement of Consent Solicitation” on September 22, 2016. Fool.com‘s article titled: “Terex Corporation Simplifies Its Portfolio as Sales Shrink” and published on August 02, 2016 is yet another important article.
TEX Company Profile
Terex Corporation, incorporated on October 30, 1986, is a lifting and material handling solutions company. The Firm is focused on providing its activities and delivering solutions for a range of commercial applications, including the construction, infrastructure, quarrying, mining, manufacturing, transportation, energy and utility industries. The Firm operates through five divisions: Aerial Work Platforms (AWP), Construction, Cranes, Material Handling & Port Solutions (MHPS), and Materials Processing (MP). The Company’s products are manufactured in North and South America, Europe, Australia and Asia and sold across the world.
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