Terex (NYSE:TEX) PT Lowered to $63.00

Terex (NYSE:TEX) had its target price trimmed by Truist Financial from $74.00 to $63.00 in a report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on TEX. The Goldman Sachs Group dropped their target price on shares of Terex from $72.00 to $62.00 and set a neutral rating on the stock in a report on Friday. Jefferies Financial Group dropped their target price on shares of Terex from $68.00 to $55.00 and set a hold rating on the stock in a report on Thursday, July 11th. Robert W. Baird increased their target price on shares of Terex from $58.00 to $67.00 and gave the stock a neutral rating in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Terex from $59.00 to $65.00 and gave the stock a neutral rating in a research report on Tuesday, July 23rd. Finally, Raymond James assumed coverage on shares of Terex in a research report on Friday, June 28th. They set a market perform rating for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $61.20.

Terex Trading Down 3.7 %

TEX opened at $51.86 on Friday. The stock has a market capitalization of $3.47 billion, a PE ratio of 6.87, a P/E/G ratio of 3.61 and a beta of 1.53. Terex has a 12-month low of $43.70 and a 12-month high of $68.08. The firm’s fifty day moving average price is $55.96 and its 200 day moving average price is $57.84. 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 issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.35 earnings per share. As a group, research analysts expect that Terex will post 7.21 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders 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 1.31%. Terex’s dividend payout ratio is currently 9.01%.

Insider Activity at Terex

In related news, Director Andra Rush bought 2,205 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the transaction, the director now directly owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Terex

A number of institutional investors and hedge funds have recently bought and sold shares of TEX. Norges Bank bought a new position in Terex in the 4th quarter valued at about $42,606,000. UBS Group AG boosted its position in shares of Terex by 83.3% during the 4th quarter. UBS Group AG now owns 147,149 shares of the industrial products company’s stock valued at $8,455,000 after purchasing an additional 66,889 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Terex by 1.8% in the 4th quarter. Clearbridge Investments LLC now owns 342,245 shares of the industrial products company’s stock worth $19,665,000 after purchasing an additional 6,119 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Terex in the 4th quarter worth approximately $550,000. Finally, Congress Wealth Management LLC DE bought a new stake in shares of Terex in the 4th quarter worth approximately $289,000. Institutional investors own 92.88% of the company’s stock.

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.