Terex (NYSE:TEX) PT Lowered to $62.00 at Truist Financial

Terex (NYSE:TEX) had its target price decreased by stock analysts at Truist Financial from $63.00 to $62.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would indicate a potential upside of 16.74% from the stock’s previous close.

Several other equities analysts have also recently issued reports on TEX. JPMorgan Chase & Co. boosted their price target on shares of Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Citigroup reduced their target price on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Evercore ISI lowered their target price on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Robert W. Baird upped their price target on Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Raymond James initiated coverage on Terex in a research report on Friday, June 28th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Terex has an average rating of “Hold” and a consensus price target of $60.60.

Terex Stock Performance

Terex stock opened at $53.11 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The firm has a market cap of $3.55 billion, a P/E ratio of 7.29, a P/E/G ratio of 4.46 and a beta of 1.53. Terex has a 1-year low of $43.70 and a 1-year high of $68.08. The firm has a 50-day moving average of $53.26 and a 200-day moving average of $57.18.

Terex (NYSE:TEX) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm earned $2.35 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. Sell-side analysts expect that Terex will post 5.88 EPS for the current year.

Insider Buying and Selling at Terex

In other news, Director Andra Rush purchased 2,205 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the purchase, the director now directly owns 21,983 shares in the company, valued at approximately $1,194,995.88. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

Several institutional investors and hedge funds have recently bought and sold shares of TEX. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Terex by 24.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 33,300 shares of the industrial products company’s stock worth $1,762,000 after purchasing an additional 6,600 shares in the last quarter. GAMMA Investing LLC raised its holdings in Terex by 83.3% during the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 335 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Terex in the second quarter valued at about $590,000. New Century Financial Group LLC purchased a new position in shares of Terex in the second quarter valued at about $275,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Terex by 15.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,928 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 397 shares in the last quarter. 92.88% of the stock is currently owned by hedge funds and other 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.