Terex (NYSE:TEX) PT Lowered to $57.00

Terex (NYSE:TEX) had its price target dropped by equities researchers at Citigroup from $60.00 to $57.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective would suggest a potential upside of 10.87% from the stock’s current price.

TEX has been the topic of several other reports. The Goldman Sachs Group reduced their target price on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday. Raymond James started coverage on shares of Terex in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial dropped their price target on shares of Terex from $74.00 to $63.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. upped their price objective on Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Evercore ISI cut their target price on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Terex presently has a consensus rating of “Hold” and a consensus target price of $60.90.

Terex Trading Down 0.9 %

NYSE TEX traded down $0.45 on Monday, hitting $51.41. 174,033 shares of the company were exchanged, compared to its average volume of 829,299. Terex has a twelve month low of $43.70 and a twelve month high of $68.08. The company’s 50 day moving average price is $55.96 and its 200-day moving average price is $57.84. 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 firm has a market capitalization of $3.44 billion, a P/E ratio of 6.82, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53.

Terex (NYSE:TEX) last announced its quarterly earnings data 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. Terex had a return on equity of 27.89% and a net margin of 9.55%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company earned $2.35 earnings per share. Terex’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts predict that Terex will post 7.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Terex

In other Terex news, Director Andra Rush purchased 2,205 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $54.36 per share, with a total value of $119,863.80. Following the purchase, the director now directly owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

Several hedge funds have recently bought and sold shares of TEX. Blue Trust Inc. grew its stake in Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after buying an additional 187 shares during the last quarter. FinTrust Capital Advisors LLC lifted its holdings in shares of Terex by 202.2% during the first quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock worth $45,000 after buying an additional 465 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new position in Terex during the fourth quarter worth about $61,000. International Assets Investment Management LLC bought a new stake in Terex in the 2nd quarter valued at about $109,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Terex during the 2nd quarter worth approximately $111,000. 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.