Terex (NYSE:TEX) Price Target Cut to $57.00

Terex (NYSE:TEX) had its price objective lowered by Citigroup from $60.00 to $57.00 in a research note released on Monday, Benzinga reports. Citigroup currently has a neutral rating on the industrial products company’s stock.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Terex from $59.00 to $65.00 and gave the stock a neutral rating in a research report on Tuesday, July 23rd. Truist Financial dropped their price target on Terex from $74.00 to $63.00 and set a buy rating for the company in a research note on Friday, September 20th. Robert W. Baird boosted their price objective on Terex from $58.00 to $67.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. Raymond James started coverage on Terex in a research report on Friday, June 28th. They issued a market perform rating for the company. Finally, The Goldman Sachs Group cut their price target on Terex from $72.00 to $62.00 and set a neutral rating on the stock in a research note on Friday, September 20th. 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, the stock presently has an average rating of Hold and a consensus target price of $60.90.

Terex Stock Up 0.5 %

NYSE TEX opened at $52.08 on Monday. Terex has a fifty-two week low of $43.70 and a fifty-two week high of $68.08. The business has a fifty day moving average price of $55.49 and a two-hundred day moving average price of $57.67. 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 capitalization of $3.48 billion, a PE ratio of 6.90, a PEG ratio of 4.44 and a beta of 1.53.

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, beating 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 for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the firm posted $2.35 earnings per share. Terex’s revenue was down 1.5% compared to the same quarter last year. Equities analysts expect that Terex will post 5.88 earnings per share for the current fiscal year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 9th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. Terex’s dividend payout ratio (DPR) is 9.01%.

Insider Activity at Terex

In other news, Director Andra Rush purchased 2,205 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of Terex

A number of institutional investors have recently bought and sold shares of the company. Clearbridge Investments LLC boosted its position in shares of Terex by 2.6% during the 1st quarter. Clearbridge Investments LLC now owns 351,153 shares of the industrial products company’s stock valued at $22,614,000 after purchasing an additional 8,908 shares in the last quarter. TCW Group Inc. acquired a new position in Terex in the second quarter valued at approximately $566,000. Russell Investments Group Ltd. grew its position in shares of Terex by 11.5% during the 1st quarter. Russell Investments Group Ltd. now owns 316,692 shares of the industrial products company’s stock worth $20,395,000 after buying an additional 32,630 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Terex by 26.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock worth $6,809,000 after buying an additional 22,291 shares during the period. Finally, Connectus Wealth LLC bought a new stake in shares of Terex in the 4th quarter valued at $1,872,000. 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.