Terex (NYSE:TEX) PT Raised to $65.00

Terex (NYSE:TEX) had its price objective raised by Robert W. Baird from $63.00 to $65.00 in a research note published on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.

TEX has been the topic of a number of other reports. The Goldman Sachs Group cut their price target on Terex from $72.00 to $62.00 and set a neutral rating on the stock in a report on Friday, September 20th. Evercore ISI dropped their price objective on Terex from $67.00 to $59.00 and set an outperform rating on the stock in a research note on Monday, August 19th. Truist Financial reduced their target price on shares of Terex from $63.00 to $62.00 and set a buy rating for the company in a research note on Wednesday. Citigroup cut their price target on shares of Terex from $60.00 to $57.00 and set a neutral rating on the stock in a report on Monday, September 23rd. Finally, Jefferies Financial Group decreased their price objective on shares of Terex from $68.00 to $55.00 and set a hold rating for the company in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Terex presently has a consensus rating of Hold and an average price target of $60.60.

Terex Trading Up 0.9 %

TEX opened at $53.51 on Wednesday. The company’s 50 day moving average price is $53.37 and its two-hundred day moving average price is $57.21. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 4.29 and a beta of 1.53. Terex has a fifty-two week low of $43.70 and a fifty-two week high of $68.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07.

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, beating analysts’ consensus estimates of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business posted $2.35 earnings per share. Terex’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, research analysts predict that Terex will post 5.88 earnings per share for the current year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were given a dividend of $0.17 per share. The ex-dividend date was Friday, August 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.27%. Terex’s dividend payout ratio is currently 9.01%.

Insider Transactions at Terex

In related news, Director Andra Rush bought 2,205 shares of Terex stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $54.36 per share, with a total value of $119,863.80. Following the acquisition, the director now directly owns 21,983 shares of the company’s stock, valued at $1,194,995.88. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

A number of large investors have recently modified their holdings of TEX. Dimensional Fund Advisors LP lifted its stake in Terex by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after purchasing an additional 109,885 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Terex by 18.4% in 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 in the last quarter. Greenhaven Associates Inc. boosted its stake in Terex by 1.6% during the second quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company’s stock valued at $82,242,000 after buying an additional 23,371 shares during the period. American Century Companies Inc. grew its position in 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Terex by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock worth $43,330,000 after acquiring an additional 26,377 shares during the last quarter. 92.88% of the stock is currently owned by 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.