Terex Corporation (TEX) is Downgraded by Jefferies to Hold

Terex Corporation (TEX) was Downgraded by Jefferies to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Jefferies advised their investors in a research report released on Aug 9, 2016.

Many Wall Street Analysts have commented on Terex Corporation. Shares were Reiterated by Barclays on Jul 11, 2016 to “Equal Weight” and Lowered the Price Target to $ 20 from a previous price target of $25 .Terex Corporation was Resumed by BofA/Merrill to “Underperform” on Jul 7, 2016. Terex Corporation was Resumed by Goldman to “Buy” on Jun 8, 2016.

On the company’s financial health, Terex Corporation reported $-0.05 EPS for the quarter, based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus estimate of $-0.05. The company had revenue of $1426.90 million for the quarter, compared to analysts expectations of $1320.93 million. The company’s revenue was down -4.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.02 EPS.

Terex Corporation opened for trading at $24.35 and hit $24.63 on the upside on Monday, eventually ending the session at $24.45, with a gain of 0.08% or 0.02 points. The heightened volatility saw the trading volume jump to 15,61,561 shares. Company has a market cap of $2,650 M.

In a different news, on Aug 5, 2016, Kenneth D. Lousberg (President, Terex Cranes) purchased 73 shares at $23.57 per share price. According to the SEC, on Aug 5, 2016, George Ellis (Senior VP Operations/Planning) purchased 20 shares at $23.57 per share price. On Aug 5, 2016, Brian J Henry (SVP Finance, Bus Development) purchased 98 shares at $23.57 per share price, according to the Form-4 filing with the securities and exchange commission.

Terex Corporation is a lifting and material handling solutions company. The Company is focused providing its operations and delivering solutions for a range of commercial applications including the construction infrastructure quarrying mining manufacturing transportation energy and utility industries. The Company operates in business segments: Aerial Work Platforms Construction Cranes Material Handling & Port Solutions and Materials Processing. Its products are manufactured in North and South America Europe Australia and Asia and sold across the world. It offers a range of products including portable material lifts telehandlers wheel loaders midi excavators site dumpers tower cranes utility equipment industrial cranes reach stackers washing systems chippers and sprinter carriers among others. Its brands include Terex Genie Demag and Powerscreen.

Terex Corporation

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