Terex (NYSE:TEX) Hits New 1-Year Low After Analyst Downgrade

Terex Co. (NYSE:TEX)’s stock price hit a new 52-week low during mid-day trading on Monday after Barclays lowered their price target on the stock from $60.00 to $52.00. Barclays currently has an equal weight rating on the stock. Terex traded as low as $43.23 and last traded at $43.82, with a volume of 325721 shares trading hands. The stock had previously closed at $44.75.

A number of other research firms have also recently weighed in on TEX. StockNews.com cut Terex from a “hold” rating to a “sell” rating in a research report on Friday. Truist Financial dropped their price target on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Robert W. Baird reduced their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Citigroup cut their price objective on shares of Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut their target price on Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Terex has an average rating of “Hold” and a consensus target price of $56.11.

Insider Activity at Terex

In other Terex news, Director David A. Sachs purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the transaction, the director now directly 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 purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Simon Meester sold 9,877 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 of the company’s stock, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in Terex during the second quarter worth about $590,000. GAMMA Investing LLC raised its stake in Terex by 83.3% in the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 335 shares during the period. Creative Planning boosted its position in Terex by 15.4% during the third quarter. Creative Planning now owns 19,998 shares of the industrial products company’s stock worth $1,058,000 after purchasing an additional 2,664 shares during the period. nVerses Capital LLC raised its position in shares of Terex by 15.8% in the third quarter. nVerses Capital LLC now owns 4,400 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 600 shares during the period. Finally, Stratos Wealth Advisors LLC boosted its holdings in shares of Terex by 32.9% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,958 shares of the industrial products company’s stock worth $1,744,000 after buying an additional 8,153 shares during the period. 92.88% of the stock is currently owned by institutional investors.

Terex Trading Down 0.6 %

The company has a market cap of $2.97 billion, a P/E ratio of 8.97, a PEG ratio of 4.53 and a beta of 1.54. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. The business has a fifty day moving average price of $47.48 and a 200-day moving average price of $51.80.

Terex (NYSE:TEX) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same period in the previous year, the company earned $1.88 EPS. On average, analysts forecast that Terex Co. will post 5.03 earnings per share for the current year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, March 7th. Terex’s payout ratio is presently 13.71%.

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.