Jefferies Believes Terex (TEX) Still Has Room to Grow

Jefferies analyst Stephen Volkmann maintained a Buy rating on Terex (TEX) on April 30 and set a price target of $60.00. The company’s shares closed last Tuesday at $49.73, close to its 52-week high of $50.09.

According to, Volkmann is a 5-star analyst with an average return of 26.8% and a 74.5% success rate. Volkmann covers the Industrial Goods sector, focusing on stocks such as Lennox International, Illinois Tool Works, and Ingersoll Rand.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Terex with a $52.77 average price target, implying a 7.7% upside from current levels. In a report issued on April 16, UBS also upgraded the stock to Buy with a $60.00 price target.

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Based on Terex’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $864 million and net profit of $40.1 million. In comparison, last year the company earned revenue of $834 million and had a GAAP net loss of $24.9 million.

Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TEX in relation to earlier this year.

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Terex Corp. engages in the manufacturing of aerial work platforms, cranes, and materials processing machinery. The company designs, builds and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. It operates through the following segments: Aerial Work Platforms; and Materials Processing. The Aerial Work Platforms segment designs, manufactures, services, and markets aerial work platform equipment, telehandlers and light towers. The Materials Processing segment designs, manufactures and markets materials processing and specialty equipment, including crushers, washing systems, screens, apron feeders, material handlers, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, and their related components and replacement parts. The company was founded in 1933 and is headquartered in Westport, CT.

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