Evercore ISI Forecasts Strong Price Appreciation for Terex (NYSE:TEX) Stock

Terex (NYSE:TEX) had its price objective hoisted by stock analysts at Evercore ISI from $59.00 to $62.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Evercore ISI’s price target suggests a potential upside of 29.11% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on TEX. Barclays lowered their price target on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. The Goldman Sachs Group decreased their price target on Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. UBS Group upgraded Terex from a “sell” rating to a “neutral” rating and upped their price objective for the company from $34.00 to $48.00 in a report on Friday. JPMorgan Chase & Co. upped their price objective on Terex from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Finally, Citigroup reduced their target price on Terex from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $49.40.

Terex Stock Up 2.4%

Shares of NYSE:TEX opened at $48.02 on Monday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. Terex has a 1 year low of $31.53 and a 1 year high of $68.08. The stock has a market capitalization of $3.18 billion, a P/E ratio of 9.68, a PEG ratio of 4.53 and a beta of 1.52. The stock has a 50-day simple moving average of $38.13 and a 200-day simple moving average of $44.47.

Terex (NYSE:TEX) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.57 by $0.26. Terex had a return on equity of 21.99% and a net margin of 6.54%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company posted $1.60 EPS. Terex’s revenue for the quarter was down 4.9% on a year-over-year basis. Equities analysts forecast that Terex will post 4.83 earnings per share for the current year.

Insiders Place Their Bets

In other Terex news, Director Andra Rush acquired 1,325 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the purchase, the director now directly owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This represents a 6.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joshua Gross sold 5,389 shares of the company’s 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 completion of the transaction, the insider now directly owns 38,755 shares in the company, valued at $1,579,266.25. The trade was a 12.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

A number of hedge funds have recently added to or reduced their stakes in TEX. Wealth Enhancement Advisory Services LLC bought a new position in shares of Terex in the 4th quarter valued at $59,179,000. FMR LLC lifted its holdings in Terex by 17.0% during the 4th quarter. FMR LLC now owns 8,782,287 shares of the industrial products company’s stock worth $405,917,000 after buying an additional 1,272,920 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Terex by 94.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company’s stock worth $99,404,000 after buying an additional 1,046,600 shares during the period. Norges Bank acquired a new position in Terex during the 4th quarter worth about $35,001,000. Finally, First Trust Advisors LP raised its position in shares of Terex by 43.2% in the 4th quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company’s stock worth $89,247,000 after acquiring an additional 582,819 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

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.