Terex (NYSE:TEX) Given New $57.00 Price Target at Citigroup

Terex (NYSE:TEX) had its price objective trimmed by Citigroup from $60.00 to $57.00 in a report issued on Monday, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other research firms also recently issued reports on TEX. The Goldman Sachs Group cut their price objective on shares of Terex from $72.00 to $62.00 and set a neutral rating for the company in a report on Friday. Robert W. Baird boosted their price objective on shares of Terex from $58.00 to $67.00 and gave the company a neutral rating in a report on Monday, July 22nd. Truist Financial cut their price target on shares of Terex from $74.00 to $63.00 and set a buy rating for the company in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Terex from $59.00 to $65.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group cut their price target on shares of Terex from $68.00 to $55.00 and set a hold rating for the company in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $60.90.

Terex Stock Up 1.2 %

Shares of TEX opened at $52.48 on Monday. Terex has a 52 week low of $43.70 and a 52 week high of $68.08. The firm has a market cap of $3.53 billion, a P/E ratio of 6.95, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53. The firm’s 50-day simple moving average is $55.89 and its 200 day simple moving average is $57.79. 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 (NYSE:TEX) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.10. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. Terex’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.35 EPS. On average, analysts forecast that Terex will post 7.21 earnings per share for the current year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 9th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, August 9th. Terex’s payout ratio is 9.01%.

Insider Activity at Terex

In other Terex news, Director Andra Rush purchased 2,205 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the transaction, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Terex

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEX. Norges Bank acquired a new position in Terex in the 4th quarter valued at approximately $42,606,000. HM Payson & Co. acquired a new stake in shares of Terex during the first quarter worth $24,429,000. Curated Wealth Partners LLC increased its position in shares of Terex by 200.0% during the second quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after buying an additional 353,844 shares during the period. AQR Capital Management LLC increased its position in shares of Terex by 18.4% during the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after buying an additional 285,750 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Terex by 25.6% during the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after buying an additional 269,777 shares during the period. 92.88% of the stock is currently owned by institutional investors and hedge funds.

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.