Terex (NYSE:TEX) Price Target Cut to $55.00 by Analysts at Jefferies Financial Group

Terex (NYSE:TEX) had its price objective trimmed by Jefferies Financial Group from $68.00 to $55.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

A number of other research firms have also recently issued reports on TEX. Truist Financial cut their price target on Terex from $73.00 to $68.00 and set a buy rating on the stock in a report on Tuesday, July 2nd. Raymond James began coverage on Terex in a research report on Friday, June 28th. They set a market perform rating on the stock. UBS Group upped their target price on Terex from $62.00 to $64.00 and gave the stock a neutral rating in a research report on Tuesday, May 21st. Citigroup began coverage on Terex in a research report on Wednesday, June 26th. They set a neutral rating and a $60.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Terex from $63.00 to $59.00 and set a neutral rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Terex currently has an average rating of Hold and a consensus price target of $63.67.

Terex Stock Performance

Shares of TEX stock opened at $54.30 on Thursday. The business’s 50 day simple moving average is $57.05 and its 200 day simple moving average is $58.57. Terex has a one year low of $43.70 and a one year high of $65.89. The stock has a market capitalization of $3.65 billion, a PE ratio of 7.19 and a beta of 1.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.16 and a quick ratio of 1.06.

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

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a $0.17 dividend. The ex-dividend date was Thursday, June 6th. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. Terex’s dividend payout ratio (DPR) is presently 9.01%.

Insider Buying and Selling at Terex

In other Terex news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total value of $200,818.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Terex news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total value of $200,818.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott Posner sold 12,500 shares of the company’s stock in a transaction on Friday, May 24th. The shares were 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 owns 58,224 shares of the company’s stock, valued at approximately $3,521,387.52. The disclosure for this sale can be found here. Insiders sold 32,929 shares of company stock worth $1,958,307 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC grew its stake in shares of Terex by 65.8% during the 2nd quarter. CWM LLC now owns 3,120 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 1,238 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Terex by 11.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 30,056 shares of the industrial products company’s stock worth $1,648,000 after purchasing an additional 3,131 shares during the period. Burns Matteson Capital Management LLC bought a new position in Terex in the 2nd quarter worth about $222,000. HM Payson & Co. bought a new position in Terex in the 1st quarter worth about $24,429,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in Terex by 26.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock worth $6,809,000 after purchasing an additional 22,291 shares during the period. Institutional investors own 92.88% of the company’s stock.

Terex Company Profile

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.