Terex Corporation (TEX) : Traders are bullish on Terex Corporation (TEX) as it has outperformed the S&P 500 by a wide margin of 8.63% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.79%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.76% in the last 1 week, and is up 9.04% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Terex Corporation has dropped 1.1% during the last 3-month period . Year-to-Date the stock performance stands at 32.4%. The stock has recorded a 20-day Moving Average of 2.54% and the 50-Day Moving Average is 10.24%.
Terex Corporation (NYSE:TEX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.75 and $23.69 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $24.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $24.24, notching a gain of 1.00% for the day. The total traded volume was 851,542 . The stock had closed at $24.00 on the previous day.
Also, Equity analysts at the Brokerage firm Jefferies downgrades its rating on Terex Corporation (NYSE:TEX). The rating major has initiated the coverage with hold rating on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on August 9, 2016.
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.