Terex (NYSE:TEX) Price Target Raised to $74.00

Terex (NYSE:TEX) had its target price raised by equities researchers at Truist Financial from $68.00 to $74.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price would suggest a potential upside of 21.01% from the company’s previous close.

Other research analysts have also issued reports about the company. Raymond James assumed coverage on Terex in a report on Friday, June 28th. They set a “market perform” rating for the company. Citigroup assumed coverage on Terex in a report on Wednesday, June 26th. They set a “neutral” rating and a $60.00 price target for the company. JPMorgan Chase & Co. upped their price target on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Robert W. Baird upped their price target on Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, UBS Group boosted their price objective on Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Terex presently has a consensus rating of “Hold” and a consensus target price of $64.83.

Terex Stock Down 3.3 %

NYSE:TEX traded down $2.11 on Thursday, hitting $61.15. 99,372 shares of the company’s stock traded hands, compared to its average volume of 831,438. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. Terex has a 1 year low of $43.70 and a 1 year high of $68.08. The firm has a 50-day moving average price of $57.17 and a 200-day moving average price of $59.00. The company has a market cap of $4.12 billion, a PE ratio of 8.28 and a beta of 1.57.

Terex (NYSE:TEX) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.10. Terex had a return on equity of 28.71% and a net margin of 9.55%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company earned $2.35 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts anticipate that Terex will post 7.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Terex news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total value of $200,818.00. Following the sale, the chief accounting officer now owns 14,606 shares in the company, valued at approximately $905,572. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total value of $200,818.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,606 shares of the company’s stock, valued at $905,572. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Scott Posner sold 12,500 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $60.48, for a total value of $756,000.00. Following the transaction, the vice president now directly owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The disclosure for this sale can be found here. Insiders have sold 32,929 shares of company stock worth $1,958,307 in the last 90 days. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TEX. Norges Bank bought a new position in shares of Terex during the fourth quarter valued at about $42,606,000. HM Payson & Co. purchased a new position in shares of Terex during the 1st quarter worth approximately $24,429,000. Curated Wealth Partners LLC grew its holdings in shares of Terex by 200.0% during the 2nd quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after acquiring an additional 353,844 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of Terex by 356.0% during the 4th quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company’s stock worth $11,903,000 after acquiring an additional 161,729 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Terex by 42.6% during the 4th quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company’s stock worth $29,926,000 after acquiring an additional 155,706 shares during the period. 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.