Notable Price Action: A Reversal for Terex Corporation Is Not Near. The Stock Reaches 52-Week High Today

Notable Price Action: A Reversal for Terex Corporation Is Not Near. The Stock Reaches 52 Week High Today

The stock of Terex Corporation (NYSE:TEX) hit a new 52-week high and has $29.78 target or 3.00% above today’s $28.91 share price. The 5 months bullish chart indicates low risk for the $3.06 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $29.78 price target is reached, the company will be worth $91.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 568,832 shares traded hands. Terex Corporation (NYSE:TEX) has risen 17.76% since April 20, 2016 and is uptrending. It has outperformed by 13.21% the S&P500.

Terex Corporation (NYSE:TEX) Ratings Coverage

Out of 18 analysts covering Terex Corporation (NYSE:TEX), 6 rate it a “Buy”, 2 “Sell”, while 10 “Hold”. This means 33% are positive. Terex Corporation has been the topic of 40 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Friday, January 29, the company rating was downgraded by Avondale. As per Friday, July 31, the company rating was downgraded by BB&T Capital. The rating was downgraded by Evercore on Friday, May 27 to “Hold”. On Wednesday, August 12 the stock rating was maintained by Deutsche Bank with “Buy”. On Wednesday, January 27 the stock rating was upgraded by JP Morgan to “Neutral”. The firm has “Underweight” rating by Barclays Capital given on Wednesday, September 9. The firm has “Outperform” rating given on Tuesday, May 17 by Wells Fargo. The stock of Terex Corporation (NYSE:TEX) has “Outperform” rating given on Tuesday, May 17 by Robert W. Baird. JP Morgan downgraded the shares of TEX in a report on Wednesday, September 9 to “Underweight” rating. Jefferies maintained Terex Corporation (NYSE:TEX) on Tuesday, May 31 with “Buy” rating.

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 0.81 in 2016 Q2. Its down 0.13, from 0.94 in 2016Q1. The ratio dropped, 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.
Moreover, Credit Agricole S A has 0% invested in Terex Corporation (NYSE:TEX) for 2,083 shares. Shelton Cap Management has invested 0.02% of its portfolio in Terex Corporation (NYSE:TEX). The New York-based D E Shaw And Com has invested 0.01% in Terex Corporation (NYSE:TEX). The Vermont-based Hanson & Doremus Investment Mgmt has invested 0.37% in Terex Corporation (NYSE:TEX). Kcg Hldgs accumulated 0.01% or 26,983 shares. Wilsey Asset Mgmt holds 3.6% or 247,670 shares in its portfolio. Fishman Jay A Ltd Mi last reported 10,500 shares in the company. The Pennsylvania-based Brandywine Inv Limited Com has invested 0.36% in Terex Corporation (NYSE:TEX). Bnp Paribas Arbitrage accumulated 0% or 50,956 shares. Moreover, Camarda Financial Advsr Limited Liability Corporation has 0% invested in Terex Corporation (NYSE:TEX) for 303 shares. Barclays Public Limited Co holds 0% of its portfolio in Terex Corporation (NYSE:TEX) for 189,084 shares. Leucadia National holds 0.24% or 100,000 shares in its portfolio. Serv Corp last reported 156 shares in the company. Barnett holds 0.01% of its portfolio in Terex Corporation (NYSE:TEX) for 1,150 shares. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 3,763 shares.

Insider Transactions: Since May 31, 2016, the stock had 29 insider buys, and 24 insider sales for $5.77 million net activity. 11,877 shares were sold by BARR KEVIN A, worth $323,054 on Thursday, November 10. On Thursday, June 2 HENRY BRIAN J bought $2,309 worth of the stock or 108 shares. The insider Ellis George bought 19 shares worth $451. FEARON MATTHEW also sold $89,674 worth of Terex Corporation (NYSE:TEX) on Friday, September 9. COHEN ERIC I sold $40,984 worth of stock or 1,432 shares. Bradley Kevin had sold 15,000 shares worth $401,100 on Wednesday, November 9. 71 shares with value of $1,729 were bought by Lousberg Kenneth D. on Tuesday, September 6.

More important recent Terex Corporation (NYSE:TEX) news were published by: Fool.com which released: “Terex Corporation Simplifies Its Portfolio as Sales Shrink” on August 02, 2016, also Fox6now.com published article titled: “Terex Corporation closing facility on Bluemound in Waukesha; 92 employees impacted”, Businesswire.com published: “Terex Corporation to Host Analyst Meeting” on November 02, 2016. More interesting news about Terex Corporation (NYSE:TEX) was released by: Nasdaq.com and their article: “Terex Corporation (TEX) Ex-Dividend Date Scheduled for November 08, 2016” with publication date: November 07, 2016.

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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