Terex (NYSE:TEX) Now Covered by Raymond James

Stock analysts at Raymond James assumed coverage on shares of Terex (NYSE:TEX) in a note issued to investors on Friday, Marketbeat Ratings reports. The firm set a “market perform” rating on the industrial products company’s stock.

TEX has been the subject of several other research reports. Truist Financial began coverage on Terex in a research note on Thursday, March 14th. They set a “buy” rating and a $73.00 target price for the company. UBS Group upped their price target on Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. JPMorgan Chase & Co. cut Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price target for the company. in a report on Monday, March 18th. Finally, Citigroup started coverage on Terex in a report on Wednesday. They issued a “neutral” rating and a $60.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Terex currently has an average rating of “Hold” and an average price target of $65.08.

Terex Stock Performance

TEX opened at $54.84 on Friday. The company has a market cap of $3.69 billion, a PE ratio of 7.26 and a beta of 1.61. The stock has a 50-day moving average of $58.05 and a 200-day moving average of $58.83. Terex has a 52-week low of $43.70 and a 52-week high of $65.89. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.23. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.23 billion. Terex had a return on equity of 30.53% and a net margin of 9.87%. As a group, equities research analysts forecast that Terex will post 7.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Stephen Johnston sold 3,239 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the sale, the chief accounting officer now directly owns 14,606 shares in the company, valued at approximately $905,572. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Terex news, CAO Stephen Johnston sold 3,239 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total value of $200,818.00. Following the transaction, the chief accounting officer now directly owns 14,606 shares in the company, valued at approximately $905,572. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott Posner sold 12,500 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the transaction, the vice president now owns 58,224 shares in the company, valued at $3,521,387.52. The disclosure for this sale can be found here. Insiders have sold a total of 32,929 shares of company stock worth $1,958,307 in the last three months. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TEX. Norges Bank bought a new position in shares of Terex in the 4th quarter worth $42,606,000. Greenhaven Associates Inc. raised its stake in Terex by 101.5% during the 4th quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock worth $83,702,000 after buying an additional 733,690 shares during the period. HM Payson & Co. acquired a new stake in Terex during the 1st quarter worth $24,429,000. American Century Companies Inc. raised its stake in Terex by 94.6% during the 3rd quarter. American Century Companies Inc. now owns 542,048 shares of the industrial products company’s stock worth $31,233,000 after buying an additional 263,435 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in Terex by 356.0% during the 4th quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company’s stock worth $11,903,000 after buying an additional 161,729 shares during the period. 92.88% of the stock is currently 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.