RBC Capital Sticks to Its Hold Rating for Terex Corp

By Jason Carr

In a report released yesterday, Seth Weber from RBC Capital reiterated a Hold rating on Terex Corp (NYSE: TEX), with a price target of $38. The company’s shares opened today at $42.73, close to its 52-week high of $42.91.

According to TipRanks.com, Weber is a 5-star analyst with an average return of 15.1% and a 78.1% success rate. Weber covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Mueller Water Products, and Illinois Tool Works.

Currently, the analyst consensus on Terex Corp is Moderate Buy and the average price target is $39.71, representing a -7.1% downside.

In a report issued on September 5, Jefferies also reiterated a Hold rating on the stock with a $35 price target.

Based on Terex Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.18 billion and quarterly net profit of $95.4 million. In comparison, last year the company earned revenue of $1.3 billion and had a net profit of $65 million.

Based on the recent corporate insider activity of 197 insiders, corporate insider sentiment is negative on the stock.

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Terex Corp. engages in manufacture of machinery products. It operates through the following business segments: Aerial Work Platforms; Construction; Cranes; Material Handling and Port Solutions; and Materials Processing.