Truist Financial Cuts Terex (NYSE:TEX) Price Target to $58.00

Terex (NYSE:TEX) had its target price cut by Truist Financial from $65.00 to $58.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group cut their price target on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Citigroup cut their target price on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. JPMorgan Chase & Co. decreased their target price on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, Robert W. Baird reduced their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.78.

Terex Trading Down 0.3 %

TEX stock opened at $45.07 on Thursday. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. Terex has a twelve month low of $44.60 and a twelve month high of $68.08. The company has a market cap of $3.01 billion, a P/E ratio of 6.58, a PEG ratio of 4.00 and a beta of 1.53. The business has a fifty day moving average of $52.89 and a 200-day moving average of $54.19.

Terex (NYSE:TEX) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business posted $1.75 EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, equities research analysts expect that Terex will post 6.07 EPS for the current year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 8th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, November 8th. Terex’s payout ratio is presently 9.93%.

Insiders Place Their Bets

In other news, Director David A. Sachs bought 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were bought at an average price of $51.30 per share, for a total transaction of $513,000.00. Following the completion of the purchase, the director now owns 107,500 shares in the company, valued at approximately $5,514,750. This trade represents a 10.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Simon Meester sold 9,877 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total transaction of $505,109.78. Following the completion of the transaction, the chief executive officer now owns 127,858 shares in the company, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. raised its stake in Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 187 shares in the last quarter. GAMMA Investing LLC increased its position in Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 335 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Terex during the 3rd quarter worth approximately $40,000. Truvestments Capital LLC acquired a new stake in Terex in the third quarter valued at approximately $41,000. Finally, Farther Finance Advisors LLC boosted its position in Terex by 74.6% in the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after buying an additional 504 shares in 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.