Jefferies Downgrades Terex Corporation to Hold

Brokerage firm Jefferies Downgrades its rating on Terex Corporation(NYSE:TEX). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Jefferies was issued on Aug 9, 2016.

In a different note, On Aug 3, 2016, Stifel Nicolaus said it Maintains its rating on Terex Corporation. In the research note, the firm Raises the price-target to $25.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 11, 2016, Barclays said it Maintains its rating on Terex Corporation. In the research note, the firm Lowers the price-target to $25.00 per share. The shares have been rated ‘Equalweight’ by the firm. On Jun 8, 2016, Goldman Sachs said it Reinstates its rating on Terex Corporation. The shares have been rated ‘Buy’ by the firm. On May 31, 2016, Morgan Stanley said it Downgrades its rating on Terex Corporation. In the research note, the firm Lowers the price-target to $26.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On May 31, 2016, Jefferies said it Maintains its rating on Terex Corporation. In the research note, the firm Lowers the price-target to $30.00 per share. The shares have been rated ‘Buy’ by the firm. On May 27, 2016, Evercore ISI Group said it Downgrades its rating on Terex Corporation. The shares have been rated ‘Hold’ by the firm.

Terex Corporation (TEX) shares turned negative on Wednesdays trading session with the shares closing down -0.07 points or -0.29% at a volume of 7,86,273. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $24.25. The peak price level was also seen at $24.25 while the days lowest was $23.87. Finally the shares closed at $24.02. The 52-week high of the shares is $25.75 while the 52-week low is $13.62. According to the latest information available, the market cap of the company is $2,609 M.

Terex Corporation(TEX) last announced its earnings results on Aug 1, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.30B. Analysts had an estimated revenue of $1.61B. Earnings per share were $0.64. Analysts had estimated an EPS of $0.54.

Several Insider Transactions has been reported to the SEC. On Aug 5, 2016, Kenneth D. Lousberg (President, Terex Cranes) purchased 73 shares at $23.57 per share price.Also, On Aug 5, 2016, George Ellis (Senior VP Operations/Planning) purchased 20 shares at $23.57 per share price.On Aug 5, 2016, Brian J Henry (SVP Finance, Bus Development) purchased 98 shares at $23.57 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.

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