Robert W. Baird Increases Terex (NYSE:TEX) Price Target to $65.00

Terex (NYSE:TEX) had its price target boosted by Robert W. Baird from $63.00 to $65.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price target points to a potential upside of 20.89% from the company’s previous close.

TEX has been the topic of several other research reports. Raymond James began coverage on Terex in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial decreased their price objective on Terex from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday. Evercore ISI decreased their target price on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. lifted their target price on Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group decreased their target price on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.60.

Terex Stock Performance

TEX stock traded up $0.76 during trading on Wednesday, reaching $53.77. The stock had a trading volume of 297,591 shares, compared to its average volume of 829,465. The stock’s 50 day moving average is $53.57 and its two-hundred day moving average is $57.24. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. Terex has a 52 week low of $43.70 and a 52 week high of $68.08. The firm has a market cap of $3.60 billion, a PE ratio of 7.12, a PEG ratio of 4.29 and a beta of 1.53.

Terex (NYSE:TEX) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company earned $2.35 earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that Terex will post 5.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Andra Rush acquired 2,205 shares of Terex stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $54.36 per share, with a total value of $119,863.80. Following the purchase, the director now directly owns 21,983 shares in the company, valued at $1,194,995.88. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Terex

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased 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 purchasing an additional 335 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Terex during the 2nd quarter valued at approximately $590,000. New Century Financial Group LLC bought a new position in shares of Terex during the 2nd quarter valued at approximately $275,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Terex by 15.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,928 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 397 shares during the last quarter. Finally, Creative Planning increased its position in shares of Terex by 18.5% during the 2nd quarter. Creative Planning now owns 17,334 shares of the industrial products company’s stock valued at $951,000 after purchasing an additional 2,708 shares during the last quarter. 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.