The Zacks Rank Explained: How to Find Strong Buy Industrial Products Stocks
It doesn't matter if you're a growth, value, income, or momentum-focused investor -- building a successful investment portfolio takes skill, research, and a little bit of luck.
Should You Buy #1 (Strong Buy)-Ranked Terex (TEX) for Your Portfolio?
Terex was upgraded to the Zacks Rank #1 list on August 5, 2023. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Incorporated in 1986, Terex Corporation is a global manufacturer of aerial work platforms, materials processing machinery and cranes. It designs, build and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications.
For fiscal 2023, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1 to $6.94 per share. TEX boasts an average earnings surprise of 32.8%.
Earnings are forecasted to see growth of 60.7% for the current fiscal year, and sales are expected to increase 15.8%.
TEX has been moving higher over the past four weeks as well, up 4.8% compared to the S&P 500's gain of 1.9%.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Terex could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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