Terex (NYSE:TEX) Receives New Coverage from Analysts at Citigroup

Citigroup began coverage on shares of Terex (NYSE:TEX) in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm issued a neutral rating and a $60.00 price target on the industrial products company’s stock.

Several other analysts have also commented on TEX. JPMorgan Chase & Co. lowered Terex from an overweight rating to a neutral rating and set a $63.00 price objective for the company. in a report on Monday, March 18th. Truist Financial assumed coverage on Terex in a report on Thursday, March 14th. They set a buy rating and a $73.00 price objective for the company. Finally, UBS Group increased their price objective on Terex from $62.00 to $64.00 and gave the company a neutral rating in a report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $65.08.

Terex Stock Down 0.9 %

Terex stock opened at $53.22 on Wednesday. The business has a fifty day moving average of $58.29 and a two-hundred day moving average of $58.79. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42. The firm has a market cap of $3.58 billion, a P/E ratio of 7.05 and a beta of 1.61. Terex has a twelve month low of $43.70 and a twelve month high of $65.89.

Terex (NYSE:TEX) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.23. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.23 billion. Terex had a return on equity of 30.53% and a net margin of 9.87%. On average, analysts forecast that Terex will post 7.09 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.28%. The ex-dividend date was Thursday, June 6th. Terex’s dividend payout ratio is currently 9.01%.

Insiders Place Their Bets

In other Terex news, insider Kieran Hegarty sold 17,190 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the sale, the insider now directly owns 200,029 shares of the company’s stock, valued at approximately $11,653,689.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Terex news, insider Kieran Hegarty sold 17,190 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the sale, the insider now directly owns 200,029 shares of the company’s stock, valued at approximately $11,653,689.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephen Johnston sold 3,239 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were 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 $905,572. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,929 shares of company stock valued at $1,958,307. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

A number of institutional investors have recently modified their holdings of TEX. Kestra Advisory Services LLC grew its position in shares of Terex by 3.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 7,736 shares of the industrial products company’s stock valued at $446,000 after acquiring an additional 254 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Terex in the 3rd quarter worth about $302,000. Envestnet Asset Management Inc. boosted its holdings in Terex by 41.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 92,855 shares of the industrial products company’s stock worth $5,350,000 after buying an additional 27,074 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Terex by 112.0% in the 3rd quarter. Hsbc Holdings PLC now owns 15,997 shares of the industrial products company’s stock worth $920,000 after buying an additional 8,452 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Terex in the 3rd quarter worth about $378,000. 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.