Terex (NYSE:TEX) Reaches New 12-Month Low Following Analyst Downgrade

Shares of Terex Co. (NYSE:TEX) reached a new 52-week low on Monday after Barclays lowered their price target on the stock from $60.00 to $52.00. Barclays currently has an equal weight rating on the stock. Terex traded as low as $43.23 and last traded at $43.82, with a volume of 325721 shares changing hands. The stock had previously closed at $44.75.

A number of other equities analysts have also recently commented on TEX. Citigroup decreased their target price on Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Robert W. Baird lowered their target price 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. Truist Financial lowered their price objective on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Terex currently has an average rating of “Hold” and a consensus target price of $56.11.

Insider Buying and Selling

In other news, Director David A. Sachs bought 10,000 shares of Terex stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average price of $51.30 per share, for a total transaction of $513,000.00. Following the purchase, the director now directly owns 107,500 shares of the company’s stock, valued at approximately $5,514,750. The trade was a 10.26 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Simon Meester sold 9,877 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total value of $505,109.78. Following the completion of the transaction, the chief executive officer now directly owns 127,858 shares in the company, valued at $6,538,658.12. This represents a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Terex

A number of institutional investors have recently bought and sold shares of TEX. Sanctuary Advisors LLC acquired a new position in shares of Terex in the 2nd quarter valued at $590,000. GAMMA Investing LLC grew its position in shares of Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 335 shares during the period. Creative Planning grew its holdings in Terex by 15.4% in the third quarter. Creative Planning now owns 19,998 shares of the industrial products company’s stock valued at $1,058,000 after purchasing an additional 2,664 shares during the period. nVerses Capital LLC increased its position in shares of Terex by 15.8% in the third quarter. nVerses Capital LLC now owns 4,400 shares of the industrial products company’s stock valued at $233,000 after buying an additional 600 shares in the last quarter. Finally, Stratos Wealth Advisors LLC grew its position in shares of Terex by 32.9% in the third quarter. Stratos Wealth Advisors LLC now owns 32,958 shares of the industrial products company’s stock valued at $1,744,000 after purchasing an additional 8,153 shares during the period. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Trading Down 0.6 %

The company has a current ratio of 2.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 4.53 and a beta of 1.54. The company has a fifty day moving average of $47.48 and a 200-day moving average of $51.80.

Terex (NYSE:TEX) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same period in the previous year, the business posted $1.88 earnings per share. As a group, equities research analysts anticipate that Terex Co. will post 5.03 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, March 7th. Terex’s dividend payout ratio (DPR) is currently 13.71%.

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.