Price Action Alert: After Today’s Gap Up, Is Terex Corporation’s Near-Term Analysis Positive

Price Action Alert: After Today's Gap Up, Is Terex Corporation's Near Term Analysis Positive

The stock of Terex Corporation (NYSE:TEX) gapped up by $0.71 today and has $36.00 target or 44.00% above today’s $25.00 share price. The 8 months technical chart setup indicates low risk for the $2.69B company. The gap was reported on Oct, 14 by If the $36.00 price target is reached, the company will be worth $1.18 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 1.22M shares traded hands or 34.19% up from the average. Terex Corporation (NYSE:TEX) has risen 11.12% since March 11, 2016 and is uptrending. It has outperformed by 5.66% the S&P500.

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 $22.59M for 29.77 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 37 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm earned “Equal-Weight” rating on Friday, September 25 by Barclays Capital. The firm earned “Hold” rating on Friday, May 27 by Evercore. On Wednesday, September 9 the stock rating was downgraded by JP Morgan to “Underweight”. As per Tuesday, May 17, the company rating was upgraded by Robert W. Baird. The firm earned “Outperform” rating on Tuesday, May 17 by Wells Fargo. The stock has “Hold” rating given by Deutsche Bank on Thursday, December 17. The stock of Terex Corporation (NYSE:TEX) has “Hold” rating given on Wednesday, September 7 by Deutsche Bank. The stock of Terex Corporation (NYSE:TEX) earned “Neutral” rating by UBS on Friday, August 26. The stock has “Hold” rating given by Jefferies on Tuesday, August 9. On Friday, July 31 the stock rating was maintained by Deutsche Bank with “Buy”.

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.
Bartlett & Company Limited Company accumulated 37 shares or 0% of the stock. Ibm Retirement Fund last reported 0.01% of its portfolio in the stock. Mutual Of America Cap Mngmt Limited Liability Com has 81,895 shares for 0.04% of their US portfolio. Hanson And Doremus Inv Mgmt has 39,885 shares for 0.37% of their US portfolio. Hbk Limited Partnership last reported 122,130 shares in the company. Tudor Invest Et Al has 0.01% invested in the company for 17,100 shares. Aqr Cap Mngmt Limited Liability Corporation reported 23,639 shares or 0% of all its holdings. State Of Wisconsin Inv Board last reported 68,862 shares in the company. Teachers Retirement Systems Of The State Of Kentucky holds 0.01% of its portfolio in Terex Corporation (NYSE:TEX) for 24,100 shares. Jacobs Levy Equity Mgmt Incorporated holds 0.11% or 271,840 shares in its portfolio. Moreover, Cantab Cap Partners Ltd Liability Partnership has 0% invested in Terex Corporation (NYSE:TEX) for 29,832 shares. Luminus Management Ltd Co has 0.02% invested in the company for 39,565 shares. Prudential Public Ltd Liability Company owns 3.02M shares or 0.24% of their US portfolio. Tiaa Cref Investment Ltd Co last reported 3.19 million shares in the company. Wells Fargo And Communications Mn accumulated 0% or 403,917 shares.

Insider Transactions: Since May 4, 2016, the stock had 29 buys, and 13 insider sales for $2.44 million net activity. The insider BARR KEVIN A bought 14 shares worth $346. $463 worth of shares were bought by Ellis George on Tuesday, September 6. 148 shares with value of $3,456 were bought by HENRY BRIAN J on Wednesday, May 4. Lousberg Kenneth D. had bought 105 shares worth $2,592. Clair Mark I had sold 7,489 shares worth $181,458. $1,155 worth of Terex Corporation (NYSE:TEX) shares were bought by Bradley Kevin. The insider FEARON MATTHEW sold $47,250.

More recent Terex Corporation (NYSE:TEX) news were published by: which released: “Terex Corporation Announces Commencement of Consent Solicitation” on September 22, 2016. Also published the news titled: “Terex Corporation Announces Receipt of Requisite Consents for Consent …” on October 03, 2016.‘s news article titled: “Terex Corporation Announces Amendment to Consent Solicitation” with publication date: September 26, 2016 was also an interesting one.

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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