Truist Financial Trims Terex (NYSE:TEX) Target Price to $63.00

Terex (NYSE:TEX) had its price target decreased by Truist Financial from $74.00 to $63.00 in a research report released on Friday, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

A number of other research firms also recently commented on TEX. Jefferies Financial Group decreased their price target on Terex from $68.00 to $55.00 and set a hold rating for the company in a research note on Thursday, July 11th. The Goldman Sachs Group decreased their target price on shares of Terex from $72.00 to $62.00 and set a neutral rating for the company in a research report on Friday. Robert W. Baird increased their price objective on shares of Terex from $58.00 to $67.00 and gave the company a neutral rating in a report on Monday, July 22nd. Raymond James initiated coverage on shares of Terex in a report on Friday, June 28th. They issued a market perform rating for the company. Finally, Citigroup initiated coverage on shares of Terex in a research note on Wednesday, June 26th. They set a neutral rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $60.90.

Terex Trading Up 1.2 %

NYSE:TEX opened at $52.48 on Friday. Terex has a 12 month low of $43.70 and a 12 month high of $68.08. The firm has a market capitalization of $3.53 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53. 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 business’s 50-day moving average is $55.89 and its two-hundred day moving average is $57.79.

Terex (NYSE:TEX) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company earned $2.35 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts predict that Terex will post 7.21 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were paid a $0.17 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.68 annualized dividend and a yield of 1.30%. Terex’s dividend payout ratio is presently 9.01%.

Insider Buying and Selling at Terex

In related news, Director Andra Rush acquired 2,205 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the purchase, the director now owns 21,983 shares in the company, valued at $1,194,995.88. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TEX. Norges Bank acquired a new position in Terex in the 4th quarter valued at $42,606,000. HM Payson & Co. bought a new stake in Terex in the 1st quarter valued at $24,429,000. Curated Wealth Partners LLC lifted its holdings in shares of Terex by 200.0% during the 2nd quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after acquiring an additional 353,844 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Terex by 18.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after acquiring an additional 285,750 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Terex by 25.6% during the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after acquiring an additional 269,777 shares during the period. Institutional investors and hedge funds 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.