Market Runner: What’s in Terex Corporation After Achieving 52-Week High?

Market Runner: What's in Terex Corporation After Achieving 52 Week High?

The stock of Terex Corporation (NYSE:TEX) hit a new 52-week high and has $32.63 target or 8.00% above today’s $30.21 share price. The 9 months bullish chart indicates low risk for the $3.19B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $32.63 price target is reached, the company will be worth $255.20M 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. The stock decreased 2.26% or $0.7 during the last trading session, hitting $30.21. About 1.85M shares traded hands or 51.64% up from the average. Terex Corporation (NYSE:TEX) has risen 27.36% since April 25, 2016 and is uptrending. It has outperformed by 21.34% the S&P500.

Analysts await Terex Corporation (NYSE:TEX) to report earnings on February, 21. They expect $-0.03 earnings per share, down 106.00% or $0.53 from last year’s $0.5 per share. After $0.19 actual earnings per share reported by Terex Corporation for the previous quarter, Wall Street now forecasts -115.79% negative EPS growth.

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. Wells Fargo upgraded the shares of TEX in a report on Tuesday, May 17 to “Outperform” rating. The company was initiated on Wednesday, September 7 by Deutsche Bank. The rating was downgraded by Evercore on Friday, May 27 to “Hold”. The firm earned “Buy” rating on Friday, October 14 by Bank of America. As per Monday, October 24, the company rating was downgraded by Barclays Capital. The rating was maintained by Barclays Capital on Monday, July 11 with “Equalweight”. The stock of Terex Corporation (NYSE:TEX) has “Mkt Perform” rating given on Friday, January 29 by Avondale. Deutsche Bank downgraded the shares of TEX in a report on Thursday, December 17 to “Hold” rating. The stock has “Equal-Weight” rating given by Barclays Capital on Friday, September 25. The rating was upgraded by JP Morgan to “Neutral” on Wednesday, January 27.

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 dived, 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.
Benchmark Cap holds 0.51% of its portfolio in Terex Corporation (NYSE:TEX) for 31,000 shares. Swiss Natl Bank holds 0.01% or 178,400 shares in its portfolio. First Eagle Investment Management Ltd Liability holds 0% of its portfolio in Terex Corporation (NYSE:TEX) for 10,000 shares. Hbk Invests Limited Partnership has 0.02% invested in the company for 122,130 shares. Brandywine Glob Investment Mngmt Limited Liability Company reported 2.61M shares or 0.36% of all its holdings. Liberty Mutual Grp Asset Mgmt last reported 0.04% of its portfolio in the stock. Natl Bank Of America Corp De last reported 0% of its portfolio in the stock. Springbok holds 955 shares or 0% of its portfolio. Tudor Investment Corp Et Al holds 17,100 shares or 0.01% of its portfolio. Jacobs Levy Equity Management holds 0.11% or 271,840 shares in its portfolio. Mutual Of America Capital Mgmt Ltd last reported 81,895 shares in the company. Northern Tru Corporation has 0.01% invested in the company for 829,903 shares. Old Mutual Customised Solutions (Proprietary) last reported 0.02% of its portfolio in the stock. Bartlett &, a Ohio-based fund reported 37 shares. Pnc Services Group Inc Inc has 8,875 shares for 0% of their US portfolio.

Insider Transactions: Since May 31, 2016, the stock had 29 insider buys, and 25 sales for $5.83 million net activity. On Tuesday, September 6 BARR KEVIN A bought $219 worth of the stock or 9 shares. FEARON MATTHEW sold $63,189 worth of stock. Lousberg Kenneth D. bought $1,721 worth of stock. 115 shares with value of $2,301 were bought by HENRY BRIAN J on Friday, July 8. The insider FILIPOV STEVE sold $213,669. ANDERSEN G CHRIS sold $480,400 worth of stock. Shares for $200,604 were sold by COHEN ERIC I.

Another recent and important Terex Corporation (NYSE:TEX) news was published by Fox6now.com which published an article titled: “Terex Corporation closing facility on Bluemound in Waukesha; 92 employees impacted” on November 10, 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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