Terex (NYSE:TEX) Price Target Lowered to $68.00 at Truist Financial

Terex (NYSE:TEX) had its target price trimmed by Truist Financial from $73.00 to $68.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other research firms have also weighed in on TEX. Raymond James initiated coverage on shares of Terex in a research note on Friday, June 28th. They issued a market perform rating on the stock. UBS Group upped their price target on shares of Terex from $62.00 to $64.00 and gave the company a neutral rating in a report on Tuesday, May 21st. JPMorgan Chase & Co. lowered Terex from an overweight rating to a neutral rating and set a $63.00 price objective for the company. in a research note on Monday, March 18th. Finally, Citigroup assumed coverage on Terex in a research note on Wednesday, June 26th. They issued a neutral rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Terex has an average rating of Hold and an average target price of $64.67.

Terex Stock Up 1.5 %

Terex stock opened at $54.20 on Tuesday. The business’s 50-day simple moving average is $57.51 and its two-hundred day simple moving average is $58.75. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16. The company has a market cap of $3.65 billion, a PE ratio of 7.18 and a beta of 1.57. Terex has a fifty-two week low of $43.70 and a fifty-two week high of $65.89.

Terex (NYSE:TEX) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.23. Terex had a return on equity of 30.53% and a net margin of 9.87%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.23 billion. Equities analysts anticipate that Terex will post 7.11 EPS for the current year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a $0.17 dividend. The ex-dividend date was Thursday, June 6th. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. Terex’s payout ratio is 9.01%.

Insider Buying and Selling at Terex

In other news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,606 shares of the company’s stock, valued at approximately $905,572. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Stephen Johnston sold 3,239 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the completion of the sale, the chief accounting officer now directly owns 14,606 shares in the company, valued at $905,572. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kieran Hegarty sold 17,190 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the completion of the sale, the insider now owns 200,029 shares of the company’s stock, valued at approximately $11,653,689.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,929 shares of company stock valued at $1,958,307. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

Hedge funds have recently modified their holdings of the company. HM Payson & Co. acquired a new position in Terex in the 1st quarter valued at about $24,429,000. DekaBank Deutsche Girozentrale raised 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 valued at $6,809,000 after buying an additional 22,291 shares during the period. Verity Asset Management Inc. acquired a new position in Terex in the first quarter valued at approximately $427,000. Cetera Advisors LLC acquired a new position in Terex in the first quarter valued at approximately $287,000. Finally, Zimmer Partners LP purchased a new position in Terex in the first quarter worth approximately $5,525,000. Hedge funds and other 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.