The Goldman Sachs Group Cuts Terex (NYSE:TEX) Price Target to $52.00

Terex (NYSE:TEX) had its price objective lowered by The Goldman Sachs Group from $60.00 to $52.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Other analysts have also issued reports about the stock. Barclays cut their target price on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Evercore ISI dropped their price objective on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price objective on shares of Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday. Truist Financial dropped their target price on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. One 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.22.

Terex Price Performance

Shares of TEX opened at $39.11 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. Terex has a fifty-two week low of $36.15 and a fifty-two week high of $68.08. The company has a market cap of $2.60 billion, a P/E ratio of 7.88, a PEG ratio of 4.53 and a beta of 1.56. The firm’s 50 day moving average price is $44.09 and its 200 day moving average price is $48.92.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same period in the previous year, the company earned $1.88 EPS. On average, research analysts forecast that Terex will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were given a $0.17 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.74%. Terex’s dividend payout ratio (DPR) is presently 13.71%.

Insider Buying and Selling

In other Terex news, Director Andra Rush purchased 1,325 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the purchase, the director now directly owns 23,308 shares in the company, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Terex

Institutional investors and hedge funds have recently made changes to their positions in the business. Neo Ivy Capital Management acquired a new position in Terex in the 4th quarter valued at about $29,000. Jones Financial Companies Lllp acquired a new position in shares of Terex in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its holdings in shares of Terex by 46.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Terex during the third quarter worth approximately $40,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Terex during the third quarter worth $41,000. 92.88% of the stock is 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.