The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Terex Corp. shares valued at $3,214,000 were sold by GARRISON JOHN L JR on Mar 27 ’24. At $64.28 per share, GARRISON JOHN L JR sold 50,000 shares. The insider’s holdings dropped to 315,483 shares worth approximately $19.15 million following the completion of this transaction.
Also, GARRISON JOHN L JR sold 15,906 shares, netting a total of over 982,036 in proceeds. Following the sale of shares at $61.74 each, the insider now holds 364,928 shares.
Before that, GARRISON JOHN L JR had sold 59,094 shares from its account. In a trade valued at $3,549,777, the Former DIR, Chairman and CEO traded Terex Corp. shares for $60.07 each. Upon closing the transaction, the insider’s holdings decreased to 59,094 shares, worth approximately $23.12 million.
As published in a research note from JP Morgan on March 18, 2024, Terex Corp. [TEX] has been rated down from an Overweight to a Neutral and the price target has been revised to $63. Analysts at Truist started covering the stock with ‘”a Buy”‘ outlook in a report released in mid March. As of February 13, 2024, UBS has decreased its “Buy” rating to a “Neutral” for TEX. Earlier on January 19, 2024, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for TEX stock which previously was a “a Neutral”.
Analyzing TEX Stock Performance
During the last five days, there has been a drop of approximately -5.86%. Over the course of the year, Terex Corp. shares have jumped approximately 5.66%. Shares of the company reached a 52-week high of $65.89 on 04/05/24 and a 52-week low of $52.83 on 02/22/24. A 50-day SMA is recorded $59.89, while a 200-day SMA reached $57.09. Nevertheless, trading volume fell to 0.9 million shares from 0.53 million shares the previous day.
Support And Resistance Levels for Terex Corp. (TEX)
According to the 24-hour chart, there is a support level at 59.88, which, if violated, would cause prices to drop to 59.06. In the upper region, resistance lies at 62.05. The next price resistance is at 63.40. RSI (Relative Strength Index) is 42.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.04, which suggests the price will decrease in the coming days. Percent R is at 94.35%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
