Analysts Set Terex Co. (NYSE:TEX) PT at $61.20

Terex Co. (NYSE:TEX) has been given an average recommendation of “Hold” by the eleven research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $60.90.

A number of research analysts have recently commented on TEX shares. Truist Financial dropped their price target on Terex from $74.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Evercore ISI dropped their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Citigroup reduced their target price 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. Raymond James started coverage on shares of Terex in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Jefferies Financial Group reduced their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, July 11th.

Terex Price Performance

TEX opened at $52.74 on Monday. Terex has a fifty-two week low of $43.70 and a fifty-two week high of $68.08. The firm has a 50-day moving average of $55.41 and a 200 day moving average of $57.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21. The firm has a market cap of $3.55 billion, a P/E ratio of 6.99, a PEG ratio of 4.44 and a beta of 1.53.

Terex (NYSE:TEX) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, beating 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 firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm earned $2.35 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. On average, research analysts expect that Terex will post 5.88 EPS for the current year.

Terex Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.29%. Terex’s dividend payout ratio is currently 9.01%.

Insider Buying and Selling at Terex

In related news, Director Andra Rush acquired 2,205 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TEX. Norges Bank purchased a new position in shares of Terex in the 4th quarter worth about $42,606,000. HM Payson & Co. bought a new stake in Terex in the 1st quarter worth approximately $24,429,000. Curated Wealth Partners LLC boosted its stake in Terex by 200.0% in the second quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after buying an additional 353,844 shares in the last quarter. AQR Capital Management LLC grew its position in Terex by 18.4% during the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after acquiring an additional 285,750 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Terex by 25.6% during the second 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 in the last quarter. Institutional investors 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.