JPMorgan Chase & Co. Cuts Terex (NYSE:TEX) Price Target to $52.00

Terex (NYSE:TEX) had its target price reduced by JPMorgan Chase & Co. from $59.00 to $52.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other equities research analysts have also recently weighed in on the company. Citigroup cut their target price on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Robert W. Baird lowered their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Truist Financial decreased their price target on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, The Goldman Sachs Group dropped their price objective on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Terex presently has a consensus rating of “Hold” and an average target price of $56.67.

Terex Stock Performance

TEX opened at $47.58 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. Terex has a 52-week low of $43.50 and a 52-week high of $68.08. The firm has a market cap of $3.18 billion, a P/E ratio of 6.95, a price-to-earnings-growth ratio of 4.01 and a beta of 1.55. The business’s fifty day moving average is $49.76 and its 200-day moving average is $53.02.

Terex (NYSE:TEX) last released its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm earned $1.75 EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. Sell-side analysts expect that Terex will post 6.07 EPS for the current fiscal year.

Insider Transactions at Terex

In related news, Director David A. Sachs bought 20,000 shares of Terex stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the completion of the acquisition, the director now directly owns 137,500 shares of the company’s stock, valued at approximately $6,840,625. The trade was a 17.02 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Simon Meester sold 9,877 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the completion of the transaction, the chief executive officer now owns 127,858 shares in the company, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Terex

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 335 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Terex during the 3rd quarter valued at about $40,000. Truvestments Capital LLC acquired a new stake in Terex during the third quarter worth approximately $41,000. Blue Trust Inc. grew its stake in Terex by 89.3% during the third quarter. Blue Trust Inc. now owns 969 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 457 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Terex by 74.6% in the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 504 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

About Terex

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.