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

Raymond James initiated coverage on shares of Terex (NYSE:TEX) in a research note published on Friday morning, MarketBeat Ratings reports. The firm issued a market perform rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on TEX. JPMorgan Chase & Co. lowered Terex from an overweight rating to a neutral rating and set a $63.00 target price for the company. in a report on Monday, March 18th. Citigroup started coverage on shares of Terex in a report on Wednesday. They issued a neutral rating and a $60.00 price target on the stock. Truist Financial initiated coverage on shares of 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 lifted their price target on shares of Terex from $62.00 to $64.00 and gave the stock a neutral rating in a research note on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Terex has a consensus rating of Hold and an average price target of $65.08.

Terex Stock Performance

NYSE TEX opened at $54.84 on Friday. Terex has a fifty-two week low of $43.70 and a fifty-two week high of $65.89. The stock has a market cap of $3.69 billion, a PE ratio of 7.26 and a beta of 1.61. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16. The firm’s fifty day moving average price is $58.05 and its two-hundred day moving average price is $58.78.

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

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, June 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.24%. Terex’s payout ratio is 9.01%.

Insider Buying and Selling

In other Terex news, CAO Stephen Johnston sold 3,239 shares of the 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 transaction, the chief accounting officer now owns 14,606 shares of the company’s stock, valued at $905,572. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Stephen Johnston sold 3,239 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total value of $200,818.00. Following the transaction, the chief accounting officer now owns 14,606 shares in the company, valued at approximately $905,572. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kieran Hegarty sold 17,190 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 200,029 shares in the company, valued at approximately $11,653,689.54. The disclosure for this sale can be found here. Insiders sold 32,929 shares of company stock valued at $1,958,307 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Terex

Several hedge funds have recently bought and sold shares of the stock. HM Payson & Co. purchased a new position in shares of Terex during the 1st quarter valued at about $24,429,000. DekaBank Deutsche Girozentrale lifted its holdings in Terex by 26.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock valued at $6,809,000 after purchasing an additional 22,291 shares in the last quarter. Verity Asset Management Inc. bought a new position in shares of Terex in the first quarter worth approximately $427,000. Cetera Advisors LLC purchased a new stake in shares of Terex in the first quarter worth $287,000. Finally, Zimmer Partners LP bought a new stake in shares of Terex during the 1st quarter valued at $5,525,000. Institutional investors own 92.88% of the company’s stock.

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.