Terex Co. (NYSE:TEX) Given Average Rating of “Hold” by Brokerages

Terex Co. (NYSE:TEX) has received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $56.63.

A number of research analysts recently weighed in on TEX shares. JPMorgan Chase & Co. cut their price objective on Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Truist Financial reduced their price objective on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Citigroup lowered their target price on shares of Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, Robert W. Baird decreased their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st.

Terex Stock Performance

Shares of TEX stock opened at $48.84 on Friday. The stock’s 50-day moving average is $48.96 and its two-hundred day moving average is $52.77. Terex has a fifty-two week low of $43.50 and a fifty-two week high of $68.08. The firm has a market cap of $3.26 billion, a P/E ratio of 7.13, a PEG ratio of 4.49 and a beta of 1.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16.

Terex (NYSE:TEX) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.31 by $0.15. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. Terex’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.75 EPS. Analysts predict that Terex will post 6.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Terex

In related news, CEO Simon Meester sold 9,877 shares of Terex stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the completion of the transaction, the chief executive officer now directly owns 127,858 shares of the company’s stock, valued at $6,538,658.12. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David A. Sachs acquired 20,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the acquisition, the director now owns 137,500 shares in the company, valued at approximately $6,840,625. The trade was a 17.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

A number of large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its position in Terex by 10.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 100,408 shares of the industrial products company’s stock worth $5,506,000 after purchasing an additional 9,530 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Terex by 177.4% in the 2nd quarter. Hsbc Holdings PLC now owns 14,670 shares of the industrial products company’s stock valued at $799,000 after buying an additional 9,382 shares during the period. Intech Investment Management LLC bought a new stake in shares of Terex during the second quarter worth $262,000. Squarepoint Ops LLC lifted its stake in shares of Terex by 172.8% during the second quarter. Squarepoint Ops LLC now owns 52,883 shares of the industrial products company’s stock valued at $2,900,000 after acquiring an additional 33,501 shares during the period. Finally, AXA S.A. boosted its holdings in Terex by 1.7% in the second quarter. AXA S.A. now owns 75,182 shares of the industrial products company’s stock valued at $4,123,000 after acquiring an additional 1,282 shares during the last quarter. 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.