Terex (NYSE:TEX) Price Target Cut to $62.00 by Analysts at Truist Financial

Terex (NYSE:TEX) had its price objective lowered by equities research analysts at Truist Financial from $63.00 to $62.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective points to a potential upside of 14.20% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Citigroup lowered their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. JPMorgan Chase & Co. boosted their target price on shares of Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Jefferies Financial Group reduced their target price on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, July 11th. The Goldman Sachs Group reduced their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Finally, Evercore ISI reduced their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.80.

Terex Trading Up 2.4 %

Shares of TEX traded up $1.28 during trading hours on Wednesday, reaching $54.29. 232,067 shares of the company traded hands, compared to its average volume of 829,122. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 7.19, a PEG ratio of 4.29 and a beta of 1.53. Terex has a 12-month low of $43.70 and a 12-month high of $68.08. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average price is $53.57 and its 200 day moving average price is $57.24.

Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the firm earned $2.35 earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts forecast that Terex will post 5.88 earnings per share for the current year.

Insider Buying and Selling

In other Terex news, Director Andra Rush purchased 2,205 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the acquisition, the director now owns 21,983 shares in the company, valued at $1,194,995.88. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Terex

Several hedge funds have recently bought and sold shares of the stock. Dorsey Wright & Associates boosted its position in Terex by 0.3% in the 2nd quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company’s stock worth $3,362,000 after purchasing an additional 186 shares in the last quarter. Blue Trust Inc. lifted its position in shares of 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 buying an additional 187 shares in the last quarter. FCG Investment Co lifted its position in shares of Terex by 3.5% during the 2nd quarter. FCG Investment Co now owns 6,534 shares of the industrial products company’s stock valued at $358,000 after buying an additional 220 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Terex by 4.4% during the 1st quarter. QRG Capital Management Inc. now owns 5,566 shares of the industrial products company’s stock valued at $358,000 after buying an additional 234 shares in the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in shares of Terex by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 12,114 shares of the industrial products company’s stock valued at $664,000 after buying an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

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.