Terex (NYSE:TEX) PT Lowered to $63.00 at Truist Financial

Terex (NYSE:TEX) had its price target reduced by Truist Financial from $74.00 to $63.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on the stock. Raymond James assumed coverage on shares of Terex in a research note on Friday, June 28th. They issued a market perform rating on the stock. Robert W. Baird boosted their price target on shares of Terex from $58.00 to $67.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Citigroup initiated coverage on shares of Terex in a research report on Wednesday, June 26th. They issued a neutral rating and a $60.00 price objective for the company. The Goldman Sachs Group dropped their target price on Terex from $72.00 to $62.00 and set a neutral rating on the stock in a research report on Friday. Finally, Evercore ISI reduced their price target on Terex from $67.00 to $59.00 and set an outperform rating for the company in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Terex has a consensus rating of Hold and an average price target of $61.20.

Terex Price Performance

Shares of TEX opened at $51.83 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21. Terex has a fifty-two week low of $43.70 and a fifty-two week high of $68.08. The firm has a 50-day simple moving average of $56.01 and a 200-day simple moving average of $57.86. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 6.86, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53.

Terex (NYSE:TEX) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $2.35 EPS. On average, equities research analysts anticipate that Terex will post 7.21 earnings per share for the current year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, August 9th. Terex’s dividend payout ratio (DPR) is 9.01%.

Insider Activity

In other Terex news, Director Andra Rush acquired 2,205 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $54.36 per share, with a total value of $119,863.80. Following the purchase, the director now owns 21,983 shares in the company, valued at $1,194,995.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TEX. Blue Trust Inc. raised its stake in Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 187 shares during the last quarter. FinTrust Capital Advisors LLC raised its position in shares of Terex by 202.2% in the first quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $45,000 after buying an additional 465 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Terex during the fourth quarter valued at approximately $61,000. International Assets Investment Management LLC purchased a new position in shares of Terex during the second quarter valued at approximately $109,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Terex during the second quarter worth approximately $111,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

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.