Citigroup Has Lowered Expectations for Terex (NYSE:TEX) Stock Price

Terex (NYSE:TEX) had its price objective dropped by Citigroup from $57.00 to $48.00 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. Citigroup’s target price suggests a potential upside of 5.73% from the stock’s current price.

Several other research analysts have also issued reports on TEX. Robert W. Baird reduced their target price on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group dropped their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Truist Financial reduced their price target on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. dropped their price objective on Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.67.

Terex Price Performance

NYSE TEX traded up $0.51 on Tuesday, hitting $45.40. 359,675 shares of the company were exchanged, compared to its average volume of 615,534. Terex has a 1-year low of $43.50 and a 1-year high of $68.08. The firm has a 50 day moving average of $50.12 and a two-hundred day moving average of $53.13. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.03 billion, a P/E ratio of 6.63, a P/E/G ratio of 4.00 and a beta of 1.55.

Terex (NYSE:TEX) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating 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 firm earned $1.75 earnings per share. Terex’s revenue was down 6.0% compared to the same quarter last year. On average, equities analysts predict that Terex will post 6.07 EPS for the current year.

Insider Transactions at Terex

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

Hedge Funds Weigh In On Terex

Institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in shares of Terex by 10.5% in the second quarter. Envestnet Asset Management Inc. now owns 100,408 shares of the industrial products company’s stock valued at $5,506,000 after buying an additional 9,530 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Terex by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock valued at $154,224,000 after acquiring an additional 109,885 shares during the period. Edgestream Partners L.P. lifted its holdings in Terex by 181.6% during the 2nd quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock valued at $3,778,000 after purchasing an additional 44,432 shares during the last quarter. Hsbc Holdings PLC boosted its position in Terex by 177.4% during the second quarter. Hsbc Holdings PLC now owns 14,670 shares of the industrial products company’s stock worth $799,000 after purchasing an additional 9,382 shares during the period. Finally, Kendall Capital Management increased its holdings in shares of Terex by 47.6% in the second quarter. Kendall Capital Management now owns 8,305 shares of the industrial products company’s stock valued at $455,000 after purchasing an additional 2,680 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

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.