Terex (NYSE:TEX) Price Target Lowered to $58.00 at Truist Financial

Terex (NYSE:TEX) had its price target cut by Truist Financial from $65.00 to $58.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities research analysts have also recently weighed in on TEX. JPMorgan Chase & Co. decreased their price target on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. The Goldman Sachs Group decreased their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Robert W. Baird dropped their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Citigroup decreased their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Terex currently has an average rating of “Hold” and a consensus price target of $58.78.

Terex Stock Down 0.3 %

NYSE:TEX opened at $45.07 on Thursday. Terex has a one year low of $44.60 and a one year high of $68.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The company has a market cap of $3.01 billion, a PE ratio of 6.58, a P/E/G ratio of 4.00 and a beta of 1.53. The firm’s 50 day simple moving average is $52.89 and its 200 day simple moving average is $54.19.

Terex (NYSE:TEX) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. Terex’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 earnings per share. On average, research analysts anticipate that Terex will post 6.07 earnings per share for the current year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 8th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Friday, November 8th. Terex’s payout ratio is 9.93%.

Insider Buying and Selling at Terex

In other Terex news, Director David A. Sachs purchased 20,000 shares of Terex stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $49.75 per share, with a total value of $995,000.00. Following the transaction, the director now owns 137,500 shares in the company, valued at $6,840,625. This trade represents a 17.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Simon Meester sold 9,877 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the transaction, the chief executive officer now owns 127,858 shares in the company, valued at approximately $6,538,658.12. The trade was a 7.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in Terex by 57.5% during 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. GAMMA Investing LLC lifted its holdings in shares of Terex by 83.3% in the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 335 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Terex during the third quarter valued at approximately $40,000. Truvestments Capital LLC bought a new stake in Terex during the third quarter worth $41,000. Finally, Farther Finance Advisors LLC raised its position in Terex by 74.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after buying an additional 504 shares during the last quarter. 92.88% of the stock is owned by institutional investors.

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.