Terex (NYSE:TEX) Given New $52.00 Price Target at Barclays

Terex (NYSE:TEX) had its price objective reduced by Barclays from $60.00 to $52.00 in a research note published on Monday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other research firms have also weighed in on TEX. 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. JPMorgan Chase & Co. cut their target price on Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Truist Financial lowered their price target on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Citigroup cut their price objective on Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $56.11.

Terex Price Performance

TEX stock opened at $44.49 on Monday. The firm has a market capitalization of $2.97 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 4.53 and a beta of 1.54. Terex has a 12 month low of $43.23 and a 12 month high of $68.08. The firm has a 50 day moving average of $47.48 and a 200-day moving average of $51.80. The company has a current ratio of 2.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same period last year, the business posted $1.88 EPS. As a group, sell-side analysts predict that Terex will post 5.03 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, March 7th. Terex’s payout ratio is 13.71%.

Insider Buying and Selling at Terex

In related news, Director David A. Sachs purchased 20,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $49.75 per share, with a total value of $995,000.00. Following the completion of the acquisition, the director now owns 137,500 shares of the company’s stock, valued at approximately $6,840,625. This trade represents a 17.02 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the completion of the transaction, the chief executive officer now directly 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. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Terex

A number of hedge funds and other institutional investors have recently modified their holdings of TEX. Fisher Asset Management LLC increased its stake in Terex by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 1,890,625 shares of the industrial products company’s stock worth $87,385,000 after buying an additional 41,685 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Terex by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,596,070 shares of the industrial products company’s stock worth $84,463,000 after purchasing an additional 8,624 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Terex by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 982,636 shares of the industrial products company’s stock valued at $45,417,000 after purchasing an additional 41,758 shares during the period. Bank of New York Mellon Corp lifted its holdings in Terex by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 725,486 shares of the industrial products company’s stock worth $33,532,000 after purchasing an additional 52,885 shares in the last quarter. Finally, Verition Fund Management LLC boosted its stake in Terex by 3.9% in the 3rd quarter. Verition Fund Management LLC now owns 241,280 shares of the industrial products company’s stock worth $12,766,000 after purchasing an additional 8,979 shares during the period. 92.88% of the stock is owned by hedge funds and other institutional investors.

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.