Evercore ISI Has Lowered Expectations for Terex (NYSE:TEX) Stock Price

Terex (NYSE:TEX) had its price target decreased by Evercore ISI from $63.00 to $59.00 in a report issued on Wednesday,Benzinga reports. Evercore ISI currently has an outperform rating on the industrial products company’s stock.

TEX has been the topic of several other research reports. Truist Financial reduced their price target on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. StockNews.com lowered shares of Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Robert W. Baird lowered their price objective on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Citigroup lowered their price target on Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.11.

Terex Price Performance

Shares of NYSE TEX opened at $43.21 on Wednesday. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 8.71, a PEG ratio of 4.70 and a beta of 1.54. Terex has a 12 month low of $43.01 and a 12 month high of $68.08. The firm’s 50 day simple moving average is $46.26 and its 200-day simple moving average is $50.95. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same period in the previous year, the company posted $1.88 EPS. Analysts expect that Terex will post 4.83 EPS for the current year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.57%. Terex’s dividend payout ratio (DPR) is 13.71%.

Insider Activity at Terex

In other news, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total value of $505,109.78. Following the transaction, the chief executive officer now directly owns 127,858 shares in the company, valued at approximately $6,538,658.12. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David A. Sachs acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $49.75 per share, for a total transaction of $995,000.00. Following the completion of the transaction, the director now owns 137,500 shares in the company, valued at $6,840,625. The trade was a 17.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

Several large investors have recently bought and sold shares of TEX. Creative Planning grew its stake in shares of Terex by 15.4% in the 3rd quarter. Creative Planning now owns 19,998 shares of the industrial products company’s stock worth $1,058,000 after purchasing an additional 2,664 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Terex by 89.3% in the 3rd quarter. Blue Trust Inc. now owns 969 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 457 shares during the last quarter. Greenleaf Trust grew its stake in shares of Terex by 7.3% in the 3rd quarter. Greenleaf Trust now owns 4,203 shares of the industrial products company’s stock worth $222,000 after purchasing an additional 286 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Terex by 105.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,074 shares of the industrial products company’s stock worth $216,000 after purchasing an additional 2,087 shares during the last quarter. Finally, E. Ohman J or Asset Management AB grew its stake in shares of Terex by 11.5% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 34,448 shares of the industrial products company’s stock worth $1,823,000 after purchasing an additional 3,551 shares during 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.