Terex (NYSE:TEX) Receives Downgrade From Goldman. Will Other Analysts Follow Suit?

June 14, 2018 - By Christine McCrea

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Investors sentiment decreased to 0.85 in 2018 Q1. Its down 0.06, from 0.91 in 2017Q4. It dropped, as 53 investors sold Terex Corporation shares while 83 reduced holdings. 42 funds opened positions while 74 raised stakes. 72.57 million shares or 4.56% less from 76.03 million shares in 2017Q4 were reported.

State Board Of Administration Of Florida Retirement owns 149,727 shares. Gsa Cap Prtn Llp holds 20,147 shares. Fifth Third Savings Bank has 0% invested in Terex Corporation (NYSE:TEX) for 835 shares. Old Mutual Customised Solutions (Proprietary) Ltd owns 0.01% invested in Terex Corporation (NYSE:TEX) for 3,300 shares. Us Commercial Bank De holds 0% of its portfolio in Terex Corporation (NYSE:TEX) for 3,507 shares. Ellington Mgmt Gru Ltd Liability Co holds 0.06% of its portfolio in Terex Corporation (NYSE:TEX) for 22,000 shares. Marcato Capital Management Lp stated it has 2.89M shares. Bankshares Of Montreal Can stated it has 43,304 shares. New York-based Jennison Associate has invested 0.04% in Terex Corporation (NYSE:TEX). Creative Planning reported 9,117 shares. Royal Retail Bank Of Canada invested in 0% or 82,897 shares. First Midwest Retail Bank Trust Division reported 0.05% of its portfolio in Terex Corporation (NYSE:TEX). Macquarie Group Limited stated it has 17,100 shares or 0% of all its holdings. Dekabank Deutsche Girozentrale owns 5,030 shares. Axa reported 38,500 shares.

Since January 5, 2018, it had 16 insider purchases, and 6 insider sales for $3.30 million activity. BARR KEVIN A sold $1.01 million worth of Terex Corporation (NYSE:TEX) on Thursday, March 8. The insider SHEEHAN JOHN D bought $12,707. 10,250 shares were bought by SACHS DAVID A, worth $376,602. $1.20M worth of Terex Corporation (NYSE:TEX) shares were sold by FEARON MATTHEW. 11,737 shares were sold by Clair Mark I, worth $449,879. $388,828 worth of Terex Corporation (NYSE:TEX) shares were sold by FILIPOV STEVE.

Terex (NYSE:TEX) Receives a Downgrade

Goldman cut their rating for shares of Terex (NYSE:TEX) from Neutral to Sell in a report that was shared with investors and clients on Thursday morning.

Terex Corporation (NYSE:TEX) Ratings Coverage

Among 11 analysts covering Terex Corp (NYSE:TEX), 4 have Buy rating, 0 Sell and 7 Hold. Therefore 36% are positive. Terex Corp has $62 highest and $40 lowest target. $46.78’s average target is 16.95% above currents $40 stock price. Terex Corp had 17 analyst reports since December 19, 2017 according to SRatingsIntel. On Tuesday, January 23 the stock rating was maintained by Seaport Global with “Hold”. As per Thursday, February 15, the company rating was maintained by Credit Suisse. The stock of Terex Corporation (NYSE:TEX) has “Neutral” rating given on Friday, March 2 by Robert W. Baird. The company was maintained on Tuesday, April 17 by BMO Capital Markets. The firm has “Hold” rating by Deutsche Bank given on Thursday, February 15. The stock has “Outperform” rating by Credit Suisse on Thursday, May 3. Jefferies maintained Terex Corporation (NYSE:TEX) rating on Thursday, January 18. Jefferies has “Hold” rating and $45.0 target. The company was upgraded on Wednesday, April 18 by Seaport Global. The firm has “Buy” rating given on Tuesday, December 19 by Robert W. Baird. The stock of Terex Corporation (NYSE:TEX) has “Neutral” rating given on Friday, May 4 by Citigroup.

The stock decreased 4.17% or $1.74 during the last trading session, reaching $40. About 2.38 million shares traded or 65.02% up from the average. Terex Corporation (NYSE:TEX) has risen 24.02% since June 14, 2017 and is uptrending. It has outperformed by 11.45% the S&P500.

Analysts await Terex Corporation (NYSE:TEX) to report earnings on August, 7. They expect $0.90 earnings per share, up 76.47 % or $0.39 from last year’s $0.51 per share. TEX’s profit will be $68.40M for 11.11 P/E if the $0.90 EPS becomes a reality. After $0.55 actual earnings per share reported by Terex Corporation for the previous quarter, Wall Street now forecasts 63.64 % EPS growth.

Terex Corporation manufactures and sells lifting and material processing products worldwide. The company has market cap of $3.04 billion. The firm operates through three divisions: Aerial Work Platforms , Cranes, and Materials Processing (MP). It has a 19.39 P/E ratio. The AWP segment designs, makes, services, and markets aerial work platform equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brand names.

More recent Terex Corporation (NYSE:TEX) news were published by: Streetinsider.com which released: “UPDATE: Goldman Sachs Downgrades Terex (TEX) to Sell” on June 14, 2018. Also Seekingalpha.com published the news titled: “Terex – A Powerful Machinery Stock” on June 11, 2018. 247Wallst.com‘s news article titled: “Top Analyst Upgrades and Downgrades: Capital One, Hewlett Packard Enterprises, Kohl’s, Roku, Spotify, Steel …” with publication date: June 14, 2018 was also an interesting one.

Terex Corporation (NYSE:TEX) Institutional Positions Chart

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