JPMorgan Chase & Co. Lowers Terex (NYSE:TEX) Price Target to $62.00

Terex (NYSE:TEX) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $65.00 to $62.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 11.93% from the company’s previous close.

Other analysts have also issued reports about the company. Truist Financial lowered their price objective on Terex from $63.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Raymond James began coverage on Terex in a research note on Friday, June 28th. They set a “market perform” rating on the stock. The Goldman Sachs Group lowered their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Jefferies Financial Group dropped their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, Citigroup decreased their target price on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. One equities research 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, the company has a consensus rating of “Hold” and an average price target of $60.30.

Terex Stock Down 0.2 %

NYSE TEX traded down $0.09 during mid-day trading on Monday, reaching $55.39. 120,581 shares of the company’s stock traded hands, compared to its average volume of 828,634. The company has a fifty day simple moving average of $53.29 and a 200-day simple moving average of $57.05. Terex has a 1-year low of $43.70 and a 1-year high of $68.08. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 7.31, a P/E/G ratio of 4.43 and a beta of 1.53. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36.

Terex (NYSE:TEX) last issued its quarterly 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. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.35 earnings per share. As a group, equities research analysts expect that Terex will post 5.88 EPS for the current year.

Insider Buying and Selling at Terex

In other Terex news, Director Andra Rush acquired 2,205 shares of the stock in a transaction dated Friday, August 2nd. The shares were bought at an average price 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 approximately $1,194,995.88. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Terex

A number of institutional investors have recently bought and sold shares of the company. Dorsey Wright & Associates grew its holdings in shares of Terex by 0.3% during 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 Terex by 57.5% in the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 187 shares during the period. FCG Investment Co boosted its stake in Terex by 3.5% during the second quarter. FCG Investment Co now owns 6,534 shares of the industrial products company’s stock worth $358,000 after buying an additional 220 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Terex by 4.4% in 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 raised its stake in shares of Terex by 2.2% in 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. Institutional investors and hedge funds 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.