Price Action Report: Time to Reconsider Terex Corporation After Achieving 52-Week High?

Price Action Report: Time to Reconsider Terex Corporation After Achieving 52 Week High?

The stock of Terex Corporation (NYSE:TEX) hit a new 52-week high and has $41.87 target or 57.00% above today’s $26.67 share price. The 8 months bullish chart indicates low risk for the $2.83B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $41.87 price target is reached, the company will be worth $1.61B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.31M shares traded hands or 35.01% up from the average. Terex Corporation (NYSE:TEX) has risen 1.50% since April 7, 2016 and is uptrending. It has underperformed by 3.28% the S&P500.

Terex Corporation (NYSE:TEX) Ratings Coverage

Out of 18 analysts covering Terex Corporation (NYSE:TEX), 7 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 39% are positive. Terex Corporation has been the topic of 39 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of Terex Corporation (NYSE:TEX) has “Hold” rating given on Friday, July 31 by BB&T Capital. Morgan Stanley downgraded Terex Corporation (NYSE:TEX) on Tuesday, May 31 to “Equal-Weight” rating. The stock of Terex Corporation (NYSE:TEX) earned “Equalweight” rating by Barclays Capital on Monday, July 11. The rating was initiated by Barclays Capital on Friday, September 25 with “Equal-Weight”. The firm earned “Buy” rating on Friday, September 30 by CLSA. The stock has “Outperform” rating given by Robert W. Baird on Tuesday, May 17. Deutsche Bank maintained Terex Corporation (NYSE:TEX) on Friday, July 31 with “Buy” rating. The firm earned “Buy” rating on Wednesday, August 12 by Stifel Nicolaus. Deutsche Bank downgraded the shares of TEX in a report on Thursday, December 17 to “Hold” rating. The rating was downgraded by Barclays Capital to “Underweight” on Monday, October 24.

According to Zacks Investment Research, “Terex Corp. is a global manufacturer of a broad range of construction and mining related capital equipment. The company strives to manufacture high quality machines which are low cost, simple to use and easy to maintain. The company’s principal products include telescopic mobile cranes, aerial work platforms, utility aerial devices, telescopic material handlers, truck mounted mobile cranes, rigid and articulated off-highway trucks and high capacity surface mining trucks, and related components and replacement parts.”

Insitutional Activity: The institutional sentiment decreased to 0.94 in Q2 2016. Its down 0.13, from 1.07 in 2016Q1. The ratio turned negative, as 55 funds sold all Terex Corporation shares owned while 73 reduced positions. 35 funds bought stakes while 85 increased positions. They now own 86.48 million shares or 7.59% more from 80.38 million shares in 2016Q1.
The Florida-based State Board Of Administration Of Florida Retirement Sys has invested 0.01% in Terex Corporation (NYSE:TEX). New York State Teachers Retirement System holds 0.01% or 204,460 shares in its portfolio. Moreover, Marshall Wace Llp has 0.01% invested in Terex Corporation (NYSE:TEX) for 51,166 shares. Aperio Group Limited Liability Company last reported 0.01% of its portfolio in the stock. California State Teachers Retirement System has invested 0.01% of its portfolio in Terex Corporation (NYSE:TEX). Legal General Group Incorporated Public Ltd Com holds 0% of its portfolio in Terex Corporation (NYSE:TEX) for 92,011 shares. Victory Cap Mngmt Incorporated accumulated 1,864 shares or 0% of the stock. Gemmer Asset Mgmt Ltd Co has 318 shares for 0% of their US portfolio. Utah Retirement owns 19,211 shares or 0.01% of their US portfolio. Barclays Pcl holds 0% of its portfolio in Terex Corporation (NYSE:TEX) for 189,084 shares. Stanley Capital Mngmt Limited Liability has 2.69% invested in the company for 131,324 shares. Weaver C Barksdale And Assocs holds 0.05% or 1,373 shares in its portfolio. Diligent Invsts Ltd Liability Corp accumulated 0.38% or 19,500 shares. Oregon Employees Retirement Fund has invested 0.02% of its portfolio in Terex Corporation (NYSE:TEX). Savings Bank Of New York Mellon Corp, a New York-based fund reported 1.31 million shares.

Insider Transactions: Since May 31, 2016, the stock had 25 insider buys, and 13 selling transactions for $2.45 million net activity. Clair Mark I also sold $181,458 worth of Terex Corporation (NYSE:TEX) shares. Lousberg Kenneth D. had bought 86 shares worth $1,721. Another trade for 9 shares valued at $219 was bought by BARR KEVIN A. Bradley Kevin had bought 70 shares worth $1,728 on Tuesday, October 11. On Friday, July 8 HENRY BRIAN J bought $2,301 worth of the stock or 115 shares. On Thursday, June 2 the insider Ellis George bought $470. COHEN ERIC I sold $200,604 worth of stock.

More important recent Terex Corporation (NYSE:TEX) news were published by: Businesswire.com which released: “Terex Corporation to Host Analyst Meeting” on November 02, 2016, also Businesswire.com published article titled: “Terex Corporation Announces Leadership Change in Its Cranes Segment”, Businesswire.com published: “Terex Corporation Announces Third Quarter 2016 Financial Results Conference Call” on October 21, 2016. More interesting news about Terex Corporation (NYSE:TEX) was released by: Natlawreview.com and their article: “Committee on Foreign Investment in United States: Konecranes Plc and Terex …” with publication date: November 01, 2016.

TEX Company Profile

Terex Corporation, incorporated on October 30, 1986, is a lifting and material handling solutions company. The Firm is focused on providing its activities and delivering solutions for a range of commercial applications, including the construction, infrastructure, quarrying, mining, manufacturing, transportation, energy and utility industries. The Firm operates through five divisions: Aerial Work Platforms (AWP), Construction, Cranes, Material Handling & Port Solutions (MHPS), and Materials Processing (MP). The Company’s products are manufactured in North and South America, Europe, Australia and Asia and sold across the world.

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