Terex Corporation (TEX) is Resumed by BofA/Merrill to Underperform

Terex Corporation (TEX) was Resumed by BofA/Merrill to “Underperform”. BofA/Merrill advised their investors in a research report released on Jul 7, 2016.

Many Wall Street Analysts have commented on Terex Corporation. Terex Corporation was Resumed by Goldman to “Buy” on Jun 8, 2016. Shares were Downgraded by Morgan Stanley on May 31, 2016 to ” Equal-Weight” and Lowered the Price Target to $ 21 from a previous price target of $26 .Company shares were Upgraded by Robert W. Baird on May 17, 2016 to ” Outperform”, Firm has raised the Price Target to $ 30 from a previous price target of $24 .

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 closed down -0.93 points or -4.45% at $19.95 with 14,95,331 shares getting traded on Tuesday. Post opening the session at $20.68, the shares hit an intraday low of $19.67 and an intraday high of $20.77 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 17, 2016, Kevin Bradley (SVP & Chief Financial Officer) sold 12,000 shares at $20.74 per share price. According to the SEC, on Jun 6, 2016, Steve Filipov (President, Terex MHPS) sold 10,005 shares at $21.35 per share price. On Jun 6, 2016, Brian J Henry (SVP Finance, Bus Development) purchased 108 shares at $21.38 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

Leave a Reply

Terex Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Terex Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.