Terex (NYSE:TEX) Price Target Raised to $72.00 at The Goldman Sachs Group

Terex (NYSE:TEX) had its price objective upped by research analysts at The Goldman Sachs Group from $64.00 to $72.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 23.37% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Raymond James initiated coverage on shares of Terex in a report on Friday, June 28th. They set a “market perform” rating on the stock. UBS Group lifted their price objective on Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Robert W. Baird increased their target price on Terex from $58.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their price target on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Truist Financial boosted their price objective on Terex from $68.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Terex currently has an average rating of “Hold” and a consensus target price of $65.92.

Terex Price Performance

NYSE:TEX traded down $4.90 during midday trading on Thursday, hitting $58.36. The company had a trading volume of 508,842 shares, compared to its average volume of 834,269. The stock’s fifty day moving average price is $57.17 and its 200-day moving average price is $59.00. Terex has a 52-week low of $43.70 and a 52-week high of $68.08. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $3.93 billion, a PE ratio of 7.74 and a beta of 1.57.

Terex (NYSE:TEX) last posted its quarterly earnings data 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 firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a return on equity of 28.71% and a net margin of 9.55%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.35 EPS. As a group, research analysts expect that Terex will post 7.09 earnings per share for the current year.

Insider Buying and Selling at Terex

In other news, insider Kieran Hegarty sold 17,190 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $58.26, for a total value of $1,001,489.40. Following the completion of the transaction, the insider now owns 200,029 shares of the company’s stock, valued at approximately $11,653,689.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Kieran Hegarty sold 17,190 shares of Terex 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 transaction, the insider now directly owns 200,029 shares of the company’s stock, valued at approximately $11,653,689.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction dated 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 owns 14,606 shares in the company, valued at approximately $905,572. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,929 shares of company stock valued at $1,958,307. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Terex

Hedge funds have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC raised its holdings in Terex by 2.6% in the first quarter. Clearbridge Investments LLC now owns 351,153 shares of the industrial products company’s stock worth $22,614,000 after buying an additional 8,908 shares during the last quarter. International Assets Investment Management LLC lifted its position in Terex by 5,549.8% in the 4th quarter. International Assets Investment Management LLC now owns 128,193 shares of the industrial products company’s stock valued at $7,366,000 after acquiring an additional 125,924 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Terex by 11.5% during the 1st quarter. Russell Investments Group Ltd. now owns 316,692 shares of the industrial products company’s stock valued at $20,395,000 after purchasing an additional 32,630 shares during the last quarter. Connectus Wealth LLC bought a new stake in shares of Terex in the 4th quarter worth $1,872,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Terex in the fourth quarter worth $1,489,000. 92.88% of the stock is owned by institutional investors.

Terex Company Profile

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.