Citigroup Issues Pessimistic Forecast for Terex (NYSE:TEX) Stock Price

Terex (NYSE:TEX) had its price objective trimmed by Citigroup from $57.00 to $48.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

TEX has been the topic of several other research reports. JPMorgan Chase & Co. cut their price target on Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday. The Goldman Sachs Group reduced their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Truist Financial dropped their price target on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Robert W. Baird reduced their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.67.

Terex Trading Up 1.5 %

Shares of NYSE TEX opened at $47.58 on Tuesday. Terex has a 1-year low of $43.50 and a 1-year high of $68.08. The company has a 50-day moving average of $49.76 and a two-hundred day moving average of $53.02. The company has a market cap of $3.18 billion, a PE ratio of 6.95, a P/E/G ratio of 4.01 and a beta of 1.55. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company posted $1.75 EPS. Terex’s revenue was down 6.0% on a year-over-year basis. As a group, equities analysts expect that Terex will post 6.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the sale, the chief executive officer now owns 127,858 shares of the company’s stock, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Sachs acquired 20,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 137,500 shares in the company, valued at $6,840,625. This trade represents a 17.02 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Terex

Several hedge funds have recently bought and sold shares of TEX. Greenwich Wealth Management LLC boosted its holdings in shares of Terex by 0.3% in the third quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company’s stock valued at $3,300,000 after buying an additional 181 shares during the period. Dorsey Wright & Associates increased its holdings in Terex by 0.3% during the 2nd quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company’s stock worth $3,362,000 after purchasing an additional 186 shares in the last quarter. US Bancorp DE raised its stake in shares of Terex by 4.0% in the 3rd quarter. US Bancorp DE now owns 5,837 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 227 shares during the period. Lingohr Asset Management GmbH lifted its holdings in shares of Terex by 2.0% in the third quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company’s stock valued at $607,000 after purchasing an additional 230 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in shares of Terex by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 5,575 shares of the industrial products company’s stock worth $295,000 after buying an additional 233 shares during the period. 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.