Terex Co. (NYSE:TEX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Terex Co. (NYSE:TEX) have earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $61.20.

Several equities research analysts recently commented on TEX shares. Raymond James assumed coverage on shares of Terex in a research report on Friday, June 28th. They set a “market perform” rating on the stock. The Goldman Sachs Group cut their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday. Truist Financial decreased their price objective on Terex from $74.00 to $63.00 and set a “buy” rating for the company in a report on Friday. Citigroup began coverage on Terex in a report on Wednesday, June 26th. They set a “neutral” rating and a $60.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd.

Terex Price Performance

TEX stock opened at $51.86 on Monday. Terex has a 1 year low of $43.70 and a 1 year high of $68.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 6.87, a P/E/G ratio of 3.61 and a beta of 1.53. The company has a 50 day simple moving average of $55.96 and a 200 day simple moving average of $57.84.

Terex (NYSE:TEX) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.10. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.35 earnings per share. Research analysts anticipate that Terex will post 7.21 EPS for the current fiscal year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, August 9th. Terex’s dividend payout ratio (DPR) is presently 9.01%.

Insiders Place Their Bets

In related news, Director Andra Rush purchased 2,205 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $54.36 per share, with a total value of $119,863.80. Following the completion of the purchase, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

Hedge funds have recently added to or reduced their stakes in the company. Dorsey Wright & Associates grew its holdings in shares of Terex by 0.3% during the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company’s stock valued at $3,362,000 after buying an additional 186 shares during the last quarter. Blue Trust Inc. boosted its stake in Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 187 shares during the last quarter. FCG Investment Co increased its holdings in Terex by 3.5% during the 2nd quarter. FCG Investment Co now owns 6,534 shares of the industrial products company’s stock worth $358,000 after purchasing an additional 220 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Terex by 4.4% in the first quarter. QRG Capital Management Inc. now owns 5,566 shares of the industrial products company’s stock worth $358,000 after purchasing an additional 234 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its holdings in shares of Terex by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 12,114 shares of the industrial products company’s stock valued at $664,000 after purchasing an additional 258 shares in the last quarter. Institutional investors and hedge funds 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.