Raymond James Begins Coverage on Terex (NYSE:TEX)

Raymond James initiated coverage on shares of Terex (NYSE:TEX) in a report released on Friday, Benzinga reports. The brokerage set a “market perform” rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on TEX. JPMorgan Chase & Co. cut shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price on the stock. in a report on Monday, March 18th. Citigroup began coverage on shares of Terex in a report on Wednesday. They issued a “neutral” rating and a $60.00 price target on the stock. UBS Group increased their target price on shares of Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Finally, Truist Financial started coverage on Terex in a report on Thursday, March 14th. They set a “buy” rating and a $73.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $65.08.

Terex Stock Performance

Terex stock opened at $53.15 on Friday. The firm has a fifty day simple moving average of $58.16 and a two-hundred day simple moving average of $58.75. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42. Terex has a twelve month low of $43.70 and a twelve month high of $65.89. The company has a market capitalization of $3.58 billion, a PE ratio of 7.04 and a beta of 1.61.

Terex (NYSE:TEX) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.23. Terex had a return on equity of 30.53% and a net margin of 9.87%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.23 billion. Research analysts expect that Terex will post 7.09 EPS for the current year.

Insider Buying and Selling at Terex

In other news, CAO Stephen Johnston sold 3,239 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total value of $200,818.00. Following the transaction, the chief accounting officer now owns 14,606 shares in the company, valued at approximately $905,572. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Terex news, CAO Stephen Johnston sold 3,239 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the completion of the sale, the chief accounting officer now owns 14,606 shares of the company’s stock, valued at $905,572. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott Posner sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the transaction, the vice president now directly owns 58,224 shares in the company, valued at approximately $3,521,387.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,929 shares of company stock valued at $1,958,307. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TEX. HM Payson & Co. bought a new stake in Terex during the 1st quarter valued at approximately $24,429,000. DekaBank Deutsche Girozentrale increased its holdings in Terex by 26.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock valued at $6,809,000 after acquiring an additional 22,291 shares during the last quarter. Verity Asset Management Inc. purchased a new position in shares of Terex during the first quarter valued at about $427,000. Cetera Advisors LLC purchased a new stake in shares of Terex in the first quarter worth about $287,000. Finally, Zimmer Partners LP purchased a new position in Terex during the 1st quarter valued at approximately $5,525,000. Hedge funds and other institutional investors 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.