Terex Co. (NYSE:TEX) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 5,490,700 shares, a growth of 6.6% from the May 15th total of 5,153,100 shares. Approximately 8.2% of the company’s shares are sold short. Based on an average trading volume of 973,300 shares, the short-interest ratio is currently 5.6 days.
NYSE:TEX traded down $0.02 during mid-day trading on Monday, hitting $30.68. 724,800 shares of the stock traded hands, compared to its average volume of 1,060,468. The company has a market cap of $2.18 billion, a P/E ratio of 11.32, a PEG ratio of 0.86 and a beta of 1.77. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.41 and a current ratio of 2.27. Terex has a 12-month low of $25.47 and a 12-month high of $44.82. The firm’s 50-day moving average is $29.34.
Terex (NYSE:TEX) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.30. Terex had a negative net margin of 0.06% and a positive return on equity of 25.38%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts predict that Terex will post 4.03 EPS for the current year.
Several equities research analysts have recently weighed in on the stock. Bank of America set a $54.00 price objective on shares of Fortis and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Morgan Stanley raised their price target on shares of Zynga and gave the stock an “overweight” rating in a report on Thursday, May 2nd. TheStreet upgraded shares of Exantas Capital from a “d+” rating to a “c” rating in a report on Thursday, May 2nd. Barclays set a $330.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Evercore ISI restated an “in-line” rating and issued a $31.00 price target (down from $40.00) on shares of Terex in a report on Friday, May 31st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. Terex currently has a consensus rating of “Hold” and a consensus price target of $34.50.
In other news, Director International Master F. Marcato sold 1,600,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $27.31, for a total transaction of $43,696,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 1,581 shares of company stock valued at $46,020 in the last ninety days. Insiders own 4.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Optimum Investment Advisors bought a new stake in Terex during the 1st quarter worth approximately $39,000. AdvisorNet Financial Inc purchased a new stake in Terex during the 4th quarter valued at approximately $40,000. NumerixS Investment Technologies Inc purchased a new stake in Terex during the 4th quarter valued at approximately $49,000. Advisors Preferred LLC purchased a new stake in Terex during the 1st quarter valued at approximately $71,000. Finally, Investors Research Corp purchased a new stake in Terex during the 1st quarter valued at approximately $119,000. 90.82% of the stock is currently owned by institutional investors.
About Terex
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.