Terex Corporation (TEX) is Upgraded by BofA/Merrill to Buy

Terex Corporation (TEX) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Oct 14, 2016.

Many Wall Street Analysts have commented on Terex Corporation. Terex Corporation was Initiated by CLSA to “Buy” on Sep 30, 2016. Deutsche Bank Initiated Terex Corporation on Sep 7, 2016 to “Hold”, Price Target of the shares are set at $26.Terex Corporation was Downgraded by Jefferies to ” Hold” on Aug 9, 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 closed down -0.32 points or -1.30% at $24.37 with 8,29,770 shares getting traded on Tuesday. Post opening the session at $24.66, the shares hit an intraday low of $24.29 and an intraday high of $24.98 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Oct 13, 2016, Kenneth D. Lousberg (President, Terex Cranes) purchased 105 shares at $24.69 per share price. According to the SEC, on Oct 13, 2016, Brian J Henry (SVP Finance, Bus Development) purchased 140 shares at $24.69 per share price. On Oct 13, 2016, George Ellis (Senior VP Operations/Planning) purchased 28 shares at $24.69 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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