JPMorgan Chase & Co. Has Lowered Expectations for Terex (NYSE:TEX) Stock Price

Terex (NYSE:TEX) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $59.00 to $52.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 15.81% from the company’s previous close.

TEX has been the topic of a number of other research reports. Citigroup cut their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. The Goldman Sachs Group cut their price objective on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Truist Financial dropped their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Robert W. Baird dropped their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.67.

Terex Stock Up 0.0 %

Terex stock traded up $0.01 during mid-day trading on Tuesday, reaching $44.90. The stock had a trading volume of 185,139 shares, compared to its average volume of 594,609. The firm has a market capitalization of $3.00 billion, a PE ratio of 6.55, a price-to-earnings-growth ratio of 4.00 and a beta of 1.55. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. Terex has a fifty-two week low of $43.50 and a fifty-two week high of $68.08. The stock’s 50-day simple moving average is $50.12 and its 200-day simple moving average is $53.13.

Terex (NYSE:TEX) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted $1.75 EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that Terex will post 6.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director David A. Sachs acquired 20,000 shares of Terex stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $49.75 per share, with a total value of $995,000.00. Following the completion of the acquisition, the director now owns 137,500 shares in the company, valued at approximately $6,840,625. This trade represents a 17.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Simon Meester sold 9,877 shares of Terex stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total value of $505,109.78. Following the completion of the transaction, the chief executive officer now owns 127,858 shares of the company’s stock, valued at approximately $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Terex by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after acquiring an additional 109,885 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of 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 worth $99,045,000 after purchasing an additional 285,750 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Terex by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,596,070 shares of the industrial products company’s stock valued at $84,463,000 after acquiring an additional 8,624 shares during the period. Millennium Management LLC increased its position in Terex by 169.0% in the 2nd quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock valued at $14,526,000 after acquiring an additional 166,429 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in shares of Terex by 3.9% during the third quarter. Verition Fund Management LLC now owns 241,280 shares of the industrial products company’s stock worth $12,766,000 after purchasing an additional 8,979 shares during the period. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

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.